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The new law on real estate sales in Turkey

Starting from November 1, 2023, only property owners, their direct relatives, second-degree relatives, or real estate agencies with a special permit for real estate activities, known as 'Tasinmaz satis yetki belgesi,' will be able to submit advertisements for the sale of real estate or vehicles in any electronic format within the territory of Turkey.

When submitting an advertisement to online platforms, the owner's identity number or foreigner identification number, as well as a phone number, will be mandatory. The system will also verify whether the property indeed belongs to the specified person. Only after this verification, individuals will be able to submit advertisements to online platforms in Turkey.

This is undoubtedly a positive development, as the real estate market will become more organized. This is particularly relevant for advertisements often found on the internet that may not reflect reality or have an accurate pricing.

Substantial fines, ranging from 10,000 to 100,000 liras, are envisaged for violators of the law, applicable for each incorrect advertisement.

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