Secure payment era in real estate sales officially begins

A significant innovation is on the horizon for the real estate sector. The Ministry of Trade is making the secure payment method mandatory for real estate transactions. This new practice will allow both citizens and the markets to conduct transactions in a more transparent and secure environment.

According to information provided by Ministry officials, July 1, 2026, has been set as the effective date for the system. This aims to prevent fraud, cash payments, and unregistered activities during the buying and selling of real estate such as homes, land, or workplaces.

Initially, the regulation was planned to start on May 1. However, due to ongoing infrastructure preparations, the implementation was postponed by approximately two months, and July 1, 2026, was announced as the new date. Detailed work is being carried out to ensure the system is implemented effectively as part of a process conducted jointly by the Ministry of Trade and the General Directorate of Land Registry and Cadastre. If deemed necessary, a further postponement of the implementation for up to 3 months may also be considered.

Under the regulation, when the buyer and seller reach an agreement on a real estate sale, payments will not be transferred to the seller's account immediately. The sale price will be held within the secure payment system until all documents and procedures are completed. Once the sale is finalized without issues, the amount blocked from the buyer will be transferred directly to the seller's account. If the sale does not take place, the amount will be automatically refunded to the buyer's account by the system.

This new model aims to prevent citizens from being victimized in real estate trade and to reduce the informal economy.

News Source: 12punto