Property Valuation Report Turkey (2026):
Do You Still Need One?

Not for a standard purchase. Since Circular 2024/4 from the Tapu ve Kadastro Genel Müdürlüğü (Land Registry and Cadastre Directorate), which took effect from 13 June 2024, foreign nationals no longer need a mandatory SPK-licensed valuation report (değerleme raporu) simply to transfer title deed on an ordinary residential or commercial purchase. That blanket requirement, introduced in 2019, was scrapped. A valuation report is still required in two specific situations: applying for Turkish citizenship by investment, and taking out a mortgage from a Turkish bank. The short-term residence permit route based on property ownership no longer uses a valuation report either — since 16 October 2023 it is confirmed purely from the sale price recorded on the tapu (title deed).

From March 2019, every foreign buyer had to commission an SPK-licensed appraisal before the land registry would process title deed transfer — introduced mainly to stop under-declared sale prices used to reduce transfer tax. By 2024, the land registry had built other ways to cross-check declared values (including its own internal valuation database), and the blanket requirement was seen as adding cost and delay to routine sales without much extra benefit once citizenship-linked purchases were handled separately. Circular 2024/4 removed the general obligation while keeping it for the higher-stakes cases: citizenship and bank lending (the residence-permit-by-property route was separately moved onto a tapu-price test rather than a valuation report).

Two cases: (1) Turkish citizenship by investment — the property's value must be independently confirmed at or above the $400,000 USD-equivalent threshold via a GEDAŞ-issued TTB; (2) any mortgage from a Turkish bank — lenders always commission their own SPK-licensed appraisal as a lending condition, regardless of the 2024 change. A short-term residence permit obtained via property ownership does not require a valuation report either: since 16 October 2023, that route is confirmed from the tapu (title deed) sale price alone, converted to USD at the Central Bank's selling rate on the transfer date, and must reach at least $200,000 — a valuation report only still matters for properties acquired between 26 April 2022 and 15 October 2023 under the older $50,000–$75,000 thresholds. Outside citizenship applications and mortgages, no valuation report is needed to complete a purchase.

TTB stands for Tutar Tespit Belgesi (Amount Confirmation Certificate) — in full, the "Taşınmaz Edinim Sureti İle Vatandaşlık Kazanımına Esas Tutar Tespit Belgesi" — the document that replaced the old-style ekspertiz raporu specifically for citizenship-by-investment applications. Where any SPK-licensed firm could previously issue the qualifying valuation, citizenship-purpose valuations are now centralised: they must be prepared by GEDAŞ Gayrimenkul Değerleme A.Ş., a single designated appraisal company. For mortgages, an ordinary SPK-licensed appraisal (the older-style report) is still what's used; the residence-permit-by-property route no longer uses a valuation report at all for properties bought since 16 October 2023.

GEDAŞ Gayrimenkul Değerleme A.Ş. is a valuation company affiliated with TOKİ, Turkey's state Housing Development Administration. The government centralised citizenship-purpose valuations with GEDAŞ specifically to close a loophole: under the old system, some independent SPK-licensed firms were issuing inflated valuations that let properties worth less than $400,000 qualify for citizenship. Routing every citizenship valuation through one state-affiliated appraiser removes that incentive. If GEDAŞ values a property below $400,000, the citizenship file is rejected regardless of the contract price paid.

For a standard SPK-licensed valuation (used for mortgages, or by choice for other purchases), Turkey publishes an official annual minimum fee tariff in the Resmi Gazete (Official Gazette) via the valuers' professional body. For 2026, the minimum fee for a residential unit up to 250 m² is roughly ₺17,600, rising to the ₺20,000–24,000 range for 251–500 m², and ₺24,000–56,000 for larger units — these are floors, and firms in Istanbul or for complex properties often charge more. For citizenship purposes, GEDAŞ charges a separate fixed fee (around ₺19,800 as of 2025, adjusted periodically) per property valued. Always confirm the current fee directly with the firm or GEDAŞ before commissioning, since both figures are revised periodically for inflation.

A standard SPK-licensed valuation report (the kind used for mortgages) is generally treated as valid for 3 months from its date of preparation for land registry and lending purposes. A GEDAŞ-issued TTB for citizenship purposes has its own timeline — it typically needs to be submitted as part of the citizenship application within a matter of months of issue, and applicants should check the current window with their lawyer or GEDAŞ directly, since these administrative deadlines are updated periodically. If your transaction stalls, always ask whether your report is still within its window before relying on it.

A standard report includes: property identification and legal description, title deed (tapu) reference (ada/parsel), the property located on a cadastral map with coordinates, photographs, zoning/imar status, a physical description (size, condition, year of construction), a comparable-sales analysis (emsal karşılaştırma), confirmation of the property's current debt/encumbrance status from the land registry, the final assessed market value, the assessment date, and the licensed appraiser's signature and SPK licence number. Reports typically run 20–60 pages depending on property type and complexity.

Many buyers do, and it's a reasonable precaution. An independent SPK-licensed valuation gives you a neutral, professional read on whether the asking price reflects genuine market value — useful leverage in price negotiation, especially in fast-moving resort markets where asking prices can run ahead of comparable sales. It's also useful supporting evidence if you plan to apply for a mortgage later, or if you simply want written documentation of value for your own records or future resale planning. The cost (roughly ₺17,000+ at 2026 minimum tariff rates) is modest against typical Turkish property prices.

This still matters even without the general 2019-style mandate. For the 4% title deed transfer tax (tapu harcı), the land registry calculates the tax based on the higher of the declared sale price or its own internal reference value for the property — so a lower private valuation doesn't reduce your tax bill on its own. Where it matters most is citizenship by investment: if GEDAŞ's TTB values the property below $400,000, the application will be rejected even if you paid more. If that happens, options are to add another property to reach the threshold, negotiate the price down to match reality, or query the valuation with a second SPK-licensed opinion (though GEDAŞ is the only body whose figure counts for citizenship purposes).

For mortgage valuations (or any voluntary private valuation), yes — any firm licensed by the Sermaye Piyasası Kurulu (Capital Markets Board, SPK) can prepare the report, and your bank or lawyer can usually recommend one. The SPK publishes the list of licensed valuation firms on its own website. The one exception is citizenship-by-investment valuations, which since the 2024 reform must go through GEDAŞ specifically — no other firm's report will be accepted for that purpose, however well-licensed.

No — not for purchases made since 16 October 2023. A short-term residence permit obtained via property ownership requires the property to be worth at least $200,000, but that threshold is now confirmed purely from the sale price recorded on the tapu (title deed), converted to USD at the Central Bank's selling rate on the transfer date — a separate SPK-licensed valuation report is not used for this route any more. The valuation-report requirement only still applies to properties bought between 26 April 2022 and 15 October 2023, under the older $50,000 (regional) / $75,000 (metropolitan) thresholds. If you're applying for residency through another route (employment, family, renting a home), no property valuation is needed either way.

No. A valuation report (değerleme raporu) assesses market value based on comparable sales, location, and general condition — it is not a structural survey. It notes visible defects but does not include an engineering assessment of seismic safety, foundation integrity, or hidden structural defects. Given Turkey's earthquake exposure, a separate inspection by a licensed civil engineer is worth commissioning for older buildings, particularly outside areas built to post-2000 seismic codes.

They are separate figures used for different purposes. The valuation report is a professional market-value opinion prepared for a specific transaction (mortgage or citizenship). The land registry and municipality separately maintain a reference/rayiç value for tax purposes, which sets the floor for the 4% title deed transfer tax and annual property tax calculations — you cannot declare a sale price below this reference figure to reduce tax. The two values often differ, and neither substitutes for the other.