Real Estate Appraisal
Real estate appraisal is a process of estimating and determining the value of a property based on various criteria such as the property’s location, size, characteristics, physical features, market supply and demand conditions, overall economic conditions, legal status, and income potential.
The scope of real estate appraisal includes all types of properties such as land, plots, residential buildings, shops, factories, hospitals, business centers, offices, warehouses, tourism facilities, shopping malls, and more. In addition to real estate appraisal, the appraisal of rights and benefits related to real estate is also a part of the appraisal process.
Real estate appraisal is generally conducted for the following purposes, although not limited to these:
- Measuring the market value of collateral taken by banks and other financial institutions when providing financing
- Determining the value of collateral received from natural and legal persons in the private and public sectors
- Determining the value of assets listed on companies’ balance sheets within the scope of International Financial Reporting Standards (IFRS) and independent auditing
- Determining the value of real estate owned by public and private joint-stock companies within the scope of the Capital Markets Law
- When individuals require an appraisal report for transactions such as buying, selling, property division, and other legal processes
- In the case of foreign nationals obtaining Turkish citizenship through investment and engaging in real estate buying and selling, as stipulated by the law introduced in 2018
- When an appraisal of the disputed property is required in judicial proceedings
It is important that real estate appraisals are conducted by an independent and impartial appraiser under the framework of International Valuation Standards (IVS). In Turkey, the authority to provide real estate appraisal services is granted to real estate appraisal companies licensed by the Capital Markets Board (SPK), and it is recommended to obtain services from companies with SPK licenses.
As a company authorized by SPK, BDDK, and RICS, we provide unbiased and objective real estate appraisal services in accordance with International Valuation Standards and ethical rules, with a team of 300 professionals, including 120 full-time staff, across Turkey and abroad.
