To combat soaring property prices, Turkish authorities have taken another significant step by introducing tighter restrictions on real estate sale advertisements. A special application integrated with the e-Devlet state system will be deployed, allowing only property owners to advertise housing for sale. This new mechanism is set to be implemented starting November 1, 2023.
Stricter Enforcement of Ownership Verification
Under this measure, providing a certificate of ownership will be mandatory when advertising housing for sale. The authenticity of the documents related to residential real estate will be rigorously verified by cross-referencing the information with land cadastre records through the e-Devlet platform. Any real estate sale advertisements posted by non-owners will be promptly removed.
Extension of a Successful Model
This isn't the first time Turkey has employed such a mechanism. A similar approach was successfully applied to the sale of used cars, where stringent ownership verification was implemented to deter fraudulent sales and ensure transparency.
Impact on Real Estate Sales
The implementation of these stricter regulations aims to provide a more secure and transparent real estate market, protecting both buyers and sellers. By allowing only property owners to advertise housing for sale, the Turkish government aims to curb the escalation of property prices and foster a more reliable marketplace.
The Turkish government's decision to implement enhanced control over real estate sale advertisements reflects its commitment to regulating the real estate market and ensuring the authenticity of transactions. This move seeks to create a fairer and more transparent environment for property sales.