The activity of reporting real estates and the rights and benefits arising from these real estates in accordance with their actual values is important for transparency in the market and for making future decisions about real estates. The concept of real estate appraisal in the capital market has emerged as a result of the legal framework organized based on this importance.
There should be absolute transparency in the capital market. In order to ensure this transparency, real estate appraisal reports are prepared in an appropriate format so that the required reports can be made in accordance with legal bases. These reports, which will be prepared by the appraisers of the valuation institutions approved by the Capital Markets Board, have an effective importance especially at the stages of investment decisions.
The Capital Markets Board (also known as the “SPK”) carries out real estate appraisal activities within the scope of the capital market in order to provide honest disclosure in the public domain. It is known that real estate appraisal companies authorized by the SPK operate in many areas within the sector and fulfil the aforementioned requirements.
To set an example, , real estate appraisal transactions can be carried out within the capital market in cases such as real estate appraisals to be obtained from the bank by loan method, appraisal of real estates that require privatization or expropriation, urban transformation appraisals, appraisal of real estates involved in property lawsuits.
However, if we look at the sub-headings, in the real estate appraisal activities carried out in the capital market, it is possible to say that the impartial capital market is made to the transactions of capital market institutions and partnership providing institutions that are subject to this market legislation, the board regulations regarding the real estate transactions, real estate projects and the benefits and rights related to the real estate pursuant to the valuation standards.
Fields and Conditions for Real estate appraisal in the Capital Market
Real estates to be subject to appraisal are immovable such as land, parcel, building, site, real estate projects, shopping malls, gas stations, factories. At the same time, within the scope of this appraisal, reports of real estates that fall under the material condition standard and appraisal reports of assets other than real estate within the scope of capital market legislation are also created.
In addition, the real estates disclosed to the public by the capital market institutions and issuers within the scope of the SPK, or included in the reports submitted to this board, also constitute the conditions under which a real estate appraisal report should be prepared regarding the rights and benefits that belong to them. In order to determine the value of these assets in the most reliable and accurate way, a professional valuation must be made and the report must be prepared in an impartial manner.