Property valuation for Turkish citizenship to be controlled by state authorities

As of 4 March 2024, a decree on the valuation of real estate for the purpose of obtaining Turkish citizenship will come into force. The purpose of the decree is to prevent artificial inflation of housing prices in order to speed up the process of obtaining citizenship. According to the authorities, the control of the real value will now be directly supervised by the Ministry.

GEDAŞ Gayrimenkul Değerleme A.Ş., a subdivision of the Ministry of Environment, Urbanisation and Climate Change, will be responsible for verifying and controlling the value of real estate offered to foreigners for citizenship. It is important to note that the property valuation now has a validity period of 3 months, which eliminates the possibility of collusion between developers and valuers to artificially inflate property values.