The Mandatory Property Valuation Report for Foreign Buyers in Turkey

If you are buying an apartment in Alanya as a foreign national, there is one document you cannot skip: the property valuation report, known in Turkish as the ekspertiz raporu. No foreign buyer can complete a title deed (tapu) transfer without it. This guide explains what the report is, why it became mandatory, what it contains, how much it costs, and the one detail that surprises almost every buyer — the official value is usually well below the price you actually pay. What is the ekspertiz raporu? The ekspertiz raporu is an independent professional appraisal of the property you intend to buy. It establishes an official market value for the home, based on its location, size, construction quality, and recent comparable sales nearby. The report is prepared by a licensed real estate appraiser and submitted to the Land Registry Directorate (Tapu Müdürlüğü) as part of your purchase file. Why it is mandatory for foreign buyers Since 18 September 2019, a Presidential Decree (Cumhurbaşkanlığı Kararnamesi No. 30838) made the valuation report compulsory for every real estate purchase involving a foreign buyer. Before that date the report was optional or only required in certain cases. Today there are no exceptions: whether you buy a studio or a villa, a Turkish national selling to a foreigner, or a foreigner buying from a developer, the report must be in the file before the tapu office will register the transfer. What the report contains A standard ekspertiz raporu runs to many pages and includes: Property identification — exact address, parcel and block numbers, and land registry records Legal status — ownership details, mortgages or liens, zoning and occupancy permit (iskan) information Building assessment — age, construction quality, materials, condition, and floor area Comparable sales analysis — recent transaction prices for similar nearby properties Final assessed value — the appraiser's official market value figure, with supporting photographs The official value versus the price you pay Here is the part that catches buyers off guard. The official assessed value in the report is frequently 20–40% lower than the actual price you agree with the seller. This is not a mistake. Appraisers rely on comparable sales data, which lags behind a fast-moving market like Alanya's coast. The land registry office uses whichever figure is higher — the valuation in the report, or the sale price you declare. Cost and timeline A valuation report typically costs between TRY 2,000 and 5,000, depending on the size and type of the property and the appraiser. Turnaround is fast: most reports are completed within 1 to 5 business days from the appraiser's site visit. How to order one Only a SPK-licensed appraiser can produce a valid report. SPK is the Sermaye Piyasası Kurulu (Capital Markets Board), the regulator that authorises appraisal firms. The 90-day validity rule A valuation report is valid for 90 calendar days from its issue date. If your purchase is delayed beyond that window the report expires and a fresh one must be commissioned. What if you use a mortgage? If you finance the purchase with a Turkish bank mortgage, the bank orders its own SPK appraisal as part of approving the loan. The bank's valuation determines how much it will lend, typically a percentage of the appraised value rather than the sale price.