'Fair market value' in housing sales is ending, a new system is coming: 'Value maps'

The General Directorate of Land Registry and Cadastre has implemented a new system to ensure tax justice in the real estate sector and prevent losses.

Thanks to the 'Real Estate Management Information System,' value maps will be produced in Istanbul. Through the maps produced, it is planned to reveal market-based mass valuation results alongside registered values. This system will support the fight against the informal economy. In addition, it also aims to increase public revenues.

"BY THE END OF 2026..."

General Director of Land Registry and Cadastre Hakan Gedikli stated in a written statement, "By the end of 2026, Land Registry and Cadastre data across all of Turkey will be integrated with address and plan data, ensuring the identification of the building stock and the production of value maps."

"IT HAS ALSO BEEN EXPANDED NATIONWIDE"

Pointing out that efforts to create city models have been ongoing since 2019 to form a basis for 3D cadastre in urban areas in Turkey, Gedikli assessed, "To ensure the sustainability of these studies carried out in urban areas, the requirement to prepare 3D building models at the stage of establishing floor easements and floor ownership has been expanded nationwide as of 2025."

"VALUE MAPS WILL BE CREATED"

Stating that it has been decided to expand the efforts starting from Istanbul for the presentation of 3D city models and their use for public needs, Gedikli said, "In this context, by the end of the year, by integrating important data such as address information, zoning status, and building age for all buildings within the borders of Istanbul, value maps will be created; a real estate management information system will be established that offers a holistic and 3D presentation opportunity to public institutions and our citizens."

News Source: 12punto