New Real Estate Appraisal System in Turkey

investing in turkey

New Real Estate Appraisal System in Turkey

New Real Estate Appraisal System in Turkey

There is a newly developed Real Estate Appraisal System against the low declaration made by those who do not want to pay low tax fee on the deed.

With the Real Estate Appraisal System, which is an issue that should be taken into consideration by those who want to buy a new house or sell a house, a low declaration period ends in the purchase and sale transactions. a new system was being prepared.

Citizens were making low declarations in order to pay less land title when buying a house. In order to prevent this situation, the State has accelerated the Real Estate Appraisal System, a new system which will help.

Announciation by President Erdoğan!

At the beginning of 2019, President Erdoğan announced his roadmap for development and transformation.

The details of the map gradually began to emerge with this system.

The new system is expected to be announced by the Minister of Environment by September.

Read also: Popular Cyprus became a in Real Estate Investment opportunity

Low Declaration Period come to the End!

As it is known in Rel estate transactions, citizens made low declarations in order to pay less.

Therefore, in this case, the house was not sold for real value but for real estate value.

Although it provides a low tax advantage when we look at this situation from the point of view of the buyer and seller, serious fines could be sent to the buyer and seller with the subsequent determinations.

Since there will be no such situation in the new system, title deed fees will be realized at the actual value.

Therefore, the citizens will not have any additional tax surprises after Applying this system.

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