A STUDY ON REAL ESTATE APPRAISAL AND ASSESMENT REPORTS CONDUCTED IN TURKEY

Authors : Huseyin Mert, Remzi Aydin

Pages : 972-985

Doi:10.17261/Pressacademia.2017.678

View : 15 | Download : 13

Publication Date : 2017-06-30

Article Type : Research Paper

Abstract :Real estate appraisal activity is the determination of the likely value of the real estate together with its rights and benefits on a certain date. Real estate appraisal report has to be organized by real estate appraisal experts who are lisenced by SPK insert ignore into journalissuearticles values( Sermaye Piyasası Kurumu ); in Turkey. The related legal rights are arranged by SPK and BDDK insert ignore into journalissuearticles values( Bankacılık Denetleme ve Düzenleme Kurumu); in their published regulations and documentaries and notifications. The real estate appraisal reports prepared in Turkey has to be prepared according to International Appraisal Standards and be in conformity with both Turkish Financial Report Standards and International Evaluation Standards. In this study, the structure and evaluation methods of real estate appraisal reports prepared in Turkey has been investigated in the light of Turkish Financial Report Standards and International Evaluation Standards. Also, taking into account the fact that accounting principles and financial tables should reflect the reality; we criticize them and suggested some solutions. 
Keywords : Real estate appraisal report, valuation, international evaluation standards, Turkish Financial Reporting Standards