Mehmet Oz Haski, Minister of Housing and Urban Development of Turkey, gave good news to real estate investors in Turkey.
The so-called GABİM system, which was the act of re-checking real estate expert reports and applying strictness, was later removed. With this change, the system that was a big obstacle for foreign investors in Turkey has been removed and the standard of expert evaluation will be normal.
In the last few months, the Turkish government had added a mechanism for real estate appraisal, and due to its complexity, it had caused confusion for builders and buyers in terms of real estate valuation in Turkey.
Today, after a few months of this new mechanism, according to the words of the Minister of Urban Development of Turkey Mr. Mehmet Ozhaski informed the cancellation of this mechanism.
Of course, this does not mean the complete cancellation of the real estate valuation process, but it means its facilitation and activity.
What is the result of this decision in the Turkish real estate market?
It seems that the property valuation system in Turkey is being eased again. This action may cause important changes in the real estate market and the process of buying and selling real estate in this country. These changes can have significant effects for investors and the Turkish property market.
This change can be very important for applicants and operators in the Turkish real estate industry, because the facilitation in the property evaluation process can increase the buying and selling activities in the real estate market.
This may help balance supply and demand and get the market moving again. Also, this change can provide further development for the real estate market in Turkey and help attract domestic and foreign investors.
It offers applicants the possibility to carry out their activities more easily and confidently in the Turkish real estate market.
What is property evaluation in Türkiye or EXPER?
Real Estate Appraisal in Turkey or “Exper” means a specialized real estate report that is mandatory for foreigners buying and selling real estate in this country.
This report includes technical and specialized information about the technical and legal status of the property, market value evaluation and other important aspects of the property. This report helps buyers and sellers in the process of making decisions and conducting transactions and increases the assurance of the credibility and quality of the property.
