Turkish Law And Regulation Has Changed! New Era In Turkey Real Estate Agency
REGULATIONS HAVE CHANGED! NEW ERA IN TURKEY REAL ESTATE AGENTS
- According to the Turkish regulation on Turkey property market and domestic trade (for foreigner company owners in Turkey) and Turkish citizens and those who do not have the "Satılık ve Kiralik Emlak Certificate" or no "Authority By Sahibinden" will no longer be able to do Turkish real estate sales and related TAPU legal property sale transactions.
- The service cost rate for Turkey brokerage services for trading in Turkey may not be more than 4 percent of the sale price of Real Estate in Turkey, excluding value added tax, and for leases, the monthly amount of the rental price may not be more than.
- An amendment to the regulation in Turkey defining the principles, rules and obligations related to the trade of Turkey Homes real estate was published with the principles related to the issuance, renewal and cancellation of the certificate of authority in the activities of real estate trade.
- According to the regulation contained in today's issue of the Turkish Official Gazette and amending the regulation on real estate trade, real estate trade can be done by enterprises and contracted enterprises with a Turkish certificate of authority.
- The authorization Turkiye Emlakçı certificate will be issued by the Provincial Directorate of trade at the location of the enterprise through the real estate Turkish Trade Information System, renewed and cancelled. The authorization document will be issued separately for each business and contract business and cannot be transferred.
- A place of business in Turkey engaged in the trade of Turkish homes and real estate may not be used for the purpose of residence and no other commercial activity may be engaged in this place of business. With the amendment, we aim to improve the quality of service in Turkish real estate activities, eliminate unfair Property in Turkey competition and prevent informality was after the decision.
THE RESPONSIBLE ADVISOR WILL BE AT LEAST A HIGH SCHOOL GRADUATE
- Among other conditions, responsible Turkish real estate consultants in Turkey must be over the age of 18, at least a Turkish high school graduate, and at least one of the responsible real estate Turkey by agent consultants must have a Level 5 and real estate consultants have a Level 4 professional qualification certificate.
TURKEY PROPERTY ADS WILL BE REMOVED
- Businesses and contract businesses that advertise real estate trade on the Internet will be obliged to comply with the principles and rules set out in the regulation and not to include misleading information and documents to third parties in their ads.
- Real or legal persons in Turkey who mediate the announcement of Turkey real estate trade on the Internet; if an announcement is made by more than one business or contract entity for the same move, they will immediately remove unauthorized ads from the publication at the request of the business or contract entity that is a party to the authorization agreement for that move.
- The service cost rate for Turkey brokerage services for trading may not be more than 4 percent of the sale price, excluding value added tax, and for leases, the monthly amount of the rental price may not be more than.
- Administrative sanctions will be applied to Turkish real estate agents who charge service costs above these limits from our citizens, noting that the upper limit on service costs will be effectively controlled.
MORE THAN 1 MILLION TURKEY HOMES SOLD IN 2020
- January-August 2020 according to TurkStat data in the period of 1 million 24 thousand 534 housing sales were made.
- The rate of increase was 42.6% compared to the same period of the previous year.
- January-August sales of mortgaged houses increased by 263.7% to 473 thousand 114, while other types of sales decreased by 6.3% to 551 thousand 420.
- During this period, housing units sold for the first time increased by 11.2% to 317,832.
- Second-hand home sales increased by 63.3% to 706 thousand 702.