Precaution against exorbitant price increases in real estate

The Ministry of Commerce has taken precautions against exorbitant price increases in the real estate sector with its statement. According to the regulation made in the Regulation on Real Estate Trade and entered into force as of May 30, 2025, price increases in real estate advertisements given on the internet by real estate owners that are not compatible with general economic data and are not based on a justified reason are prohibited. It was also announced that real estate businesses cannot mediate such advertisements.

''101 million TL fine was imposed on 1012 real estate offices''

Making evaluations on the subject, Altın Emlak Global Board Chairman Mustafa Hakan Özelmacıklı said that they found the regulation extremely positive as sector representatives. Noting that the Ministry of Trade has been conducting inspections on this issue for a while, Özelmacıklı said, "The Ministry imposed a total of 101 million TL exorbitant pricing fines on 1012 real estate businesses as of January 2025. However, there was a point that was overlooked here. Real estate businesses carry out their marketing activities within the framework of the price given by the property owner within the scope of the authorization agreement. Therefore, the real addressee of the issue was the property owners. Now the property owners will also face administrative sanctions."

''Now property owners may also face sanctions''

Özelmacıklı said, "There are actually multiple reasons that may cause the price of real estate to increase during the marketing process. For example, those who make their homes furnished or make additional renovations, those who put their tenants up for sale again. In some cases, there are even property owners who change the prices by adding additional areas to their properties. In this process, the reason for the price increase is shown as real estate businesses. This is not true. As businesses with an authorization certificate, we act as a buffer to keep prices at market conditions. Because we do not charge a service fee for a place that is not sold. In addition, we were penalized even though we did not increase the price and the owner requested this increase. Now, thanks to this change, property owners will be able to face sanctions if they make price increases that do not make sense according to the economic conjuncture. However, at this point, it is also necessary to clearly state what the price increase will be considered 'exorbitant' on. There should be a base increase rate here. For example, it would be appropriate to determine a criterion such as the inflation rate or the Central Bank indexes and use an expression such as 'An increase cannot be made above this rate.'"

Underlining that real estate consultants and real estate agencies should work more meticulously and carefully in the new period, Özelmacıklı made the following recommendations to sector professionals and property owners: "From now on, our colleagues should be much more meticulous in the price analysis of the real estate they will mediate. They should determine the price according to reasonable analysis and justifications. They should also inform the property owners correctly, clearly and definitely about both this new regulation and the price determination process. For example, they should make instructions such as 'If you make such a price increase, you may also face sanctions'. If necessary, they should even withdraw from the sale of the relevant real estate. In addition, in case of a price increase, they should definitely make a new contract with the property owners and record the price justifications of the advertisements they publish. Property owners should definitely act with authorized and competent real estate agencies, take their instructions into consideration, and determine the value of their properties calmly and rationally without being carried away by the greed of making money. Otherwise, it is highly probable that they will experience serious problems."

UAV

Editor: News Center