Amendment to the foreign ownership law in Turkey

Amendment to the foreign ownership law in Turkey

The Turkish government is always working to keep markets in order and sensible, without allowing wild rises in property prices
Turkey's property boom has come with a few stumbles, and the most significant of them is property valuation

There are roughly 100 property valuation companies in Turkey whose job is to review new properties, value them and give them a valuation suitable for Turkish citizenship
which pushes construction companies to build close ties with valuation companies in order to raise a property's price beyond what it is worth

For example, a property whose natural price is one million five hundred thousand
is valued by the valuation companies at two million three hundred thousand
so the property rises to an absurd price and becomes eligible for Turkish citizenship

The Turkish government has issued an amendment to the property valuation law
designed to bring order to the market and give every property a sensible price
The amendment centres on ending direct dealings between construction companies and property valuation companies
so that valuations are carried out by randomly assigned companies rather than companies the construction firm already knows, and in this way properties will be valued at their true price

Some investors are worried that property prices will rise
but at Maher International we believe properties will be properly regulated and their prices will be sensible, and even if prices rise a little, it will be in return for real services, real features and an accurate valuation

As an investor you should always look for a strategic partner who will find you a correctly valued property, so that you do not lose your money on faulty valuations that swallow a large part of it