Property value refers to the market value of a property and often plays an important role in buying and selling transactions. This value, also known as the current value, is the value of the private or public property in the current market.
The Importance of Real Estate Value
Real estate owners should know the value of their property and act according to this value, especially when buying or selling their property, such as housing or land. The current price varies depending on supply and demand and is used as the basis for determining the sales price.
Calculation of Property Value
When calculating the property value, the current market value of the property is first taken into account. This evaluation is made according to many different criteria, such as the location of the property, its proximity to the city center and important places. The property value should be determined in a way that does not victimize the buyer and seller. The market value certificate can be obtained from the municipality to which the property is affiliated.
Land Property Value
If the property is a land, factors such as the location of the land, the condition of the surrounding buildings and whether it is agricultural land are taken into account when determining the real estate value of the land. In addition, the future value increase potential of the land and its investment suitability are also important in determining the current value. Land real estate value can be calculated based on inflation rates published by the Ministry of Finance.
Learning the value of real estate is a fundamental step in real estate buying and selling transactions, and it may be useful to get support from experts or institutions in the field to make an accurate assessment.
Learning the Land Real Estate Value and Calculating the Real Estate Value
Learning the Land Real Estate Value
Obtaining Information from the Municipality
To find out the real estate value of the land, the most direct way is to apply to the municipality to which the land is affiliated. At the municipality, the property value can be queried using the land's island and parcel information or the land owner's information.
Market Comparison
You can also determine the approximate market value of the land by comparing the prices of similar lands in the region where your land is located. This method can be used to estimate the value of land.
General Learning of Real Estate Value
Market Analysis and Current Price
The real estate value of a property is determined by market analysis and fair value assessments. By calculating the minimum and maximum values of the property, the general market situation and current prices are examined.
Calculation of Fair Value
Fair value is generally a price below the market value of the property. It is important to know how the current value is calculated when making buying and selling transactions. The market value is determined according to various criteria such as the location of the property, infrastructure facilities and ease of transportation.
When determining property value, you can both conduct individual research and get help from professional real estate consultants. Especially when it comes to large investments and buying and selling transactions, expert opinions are important for an accurate evaluation.
Current Price Calculation and Inquiry of Real Estate Value
Definition of Fair Value
In the real estate market, the lower price of a property, which is generally below the current market value, is called the current value. In buying and selling transactions, it is important to know the current price so that the buyer and seller can reach a common price.
Calculation Process
- Selection of Similar Properties: Three properties with similar characteristics, located in the same district and immediate surroundings as the property whose market value needs to be determined, are selected.
- Calculation of the Average Square Meter Price: The sum of the market prices of the three selected properties is divided by the total square meters of these properties, and an average square meter market price is calculated for the properties in the district.
- Calculation of the Current Value: The approximate market value of the property is found by multiplying the square meter of the flat, shop or office for sale by the calculated average square meter market price.
Calculation Criteria
- Current economic situation, real estate market data.
- The location and view of the property.
- Proximity to facilities such as shopping malls, public transportation, schools and hospitals.
Comparison with Property Tax Cost
It is important not to create large differences between the property value or current value calculation and the property tax amount. Understating the value of the property may result in penal consequences and increase financial liabilities during the purchase and sale.
Importance for Earthquake Insurance
Market value is also important for earthquake insurance such as DASK. Declaring low property value may cause DASK payments to be low.
Inquiring the Real Estate Value
Online Inquiry
Property value can be inquired via official addresses on the internet. You can make an inquiry with the necessary information by visiting the website of the municipality closest to your location.
Insurance Companies and Agencies
Some insurance companies and agencies offer property valuation services. This service can be used for market value calculation and insurance transactions.