Significant regulations on the horizon for real estate and vehicle sales: 'Everyone will be questioned'

Fahrettin Batı, a member of the Automotive Trade Council of the Union of Chambers and Commodity Exchanges of Turkey (TOBB), made statements regarding the new regulation to be introduced for real estate and vehicle sales.

In a statement regarding the matter, Fahrettin Batı announced that various measures have been taken and will continue to be taken to prevent potential irregularities in sales.

Stating that the Ministry of Trade will implement a new practice regarding real estate agents and car dealerships, Batı said, "Citizens will be directed to a real estate agent or an authorized car dealer via e-Devlet when selling their vehicle or property. Through this redirection, the listing of a single item for sale by multiple individuals will be prevented.

It will also be clarified on listing websites when the property or car has been sold. Thirdly, these firms will be held accountable for the sales they have made," he said.

Batı, speaking about the advantages of these measures, stated, "First of all, they list a single vehicle in multiple ways. They make it appear as if they are different vehicles. This practice will prevent those who engage in speculative or malicious trade. At the same time, our people will see that the vehicle they are purchasing is listed by real and legitimate individuals. In this respect, it will be extremely beneficial if it is implemented. The regulation will definitively come into effect as of September 15."

Noting that he is concerned about the informal economy and that authorities are taking various measures in this regard, Fahrettin Batı concluded his remarks as follows:

"The Ministry of Finance will have very heavy sanctions on this matter. They have very serious efforts underway. The Ministry of Trade, the Ministry of Treasury and Finance, and the Ministry of Interior will work in an integrated manner on sales made through Notaries. When I, as Fahrettin Batı, sell a vehicle, this vehicle sale will appear on the pages of the Ministry of Trade, the General Directorate of Security, and the Ministry of Treasury and Finance."

Therefore, anyone who sells more than 3 vehicles, sells vehicles via power of attorney through a relative, or works at a workplace for minimum wage while having 3 vehicle transfer transactions registered in their name will be questioned. There will be heavy penalties for this. There will be no amnesty for these penalties."