Real Estate

Turkiye: Lease agreements will be moved to electronic media until the end of 2024

With the arrangement to be made until the end of 2024, lease agreements will be made via e-Devlet.

The Action Plan to Combat Informal Economy, prepared by the Ministry of Treasury and Finance and covering the period 2023-2025, was put into effect. It is aimed to prevent unfair competition by increasing the level of social welfare, ensuring fair income distribution and economic stability, and improving other macroeconomic indicators during the Plan period. Turkiye Real Estate Valuation Information System will be established, while lease agreements will be arranged through the e-Devlet Gateway.

In order to create immovable value maps, the value of immovables will be determined with a collective valuation model, with a system integrated into the Land Registry and Cadastre Information System. The arrangement will be completed by the end of 2024.

Real Estate Specialist Mustafa Hakan Ozelmacikli, who made statements on the subject, said, “A central information system can be established to reduce disputes over rent. With this system, which can be called the Rental Tracking System, rental contracts can be made online. With the system that will be integrated with e-Devlet, the formation of rental value maps, integration between institutions, control of increases can be achieved. We need this infrastructure with web deed integration over real estate identification numbers with real estate businesses authorized by the Ministry of Commerce. In this regard, an application can be made quickly over the Real Estate Trade Information System (TTBS). Special accounts can be opened in banks regarding rental costs.”

Source: Trthaber / Translated by Irem Yildiz

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