Comparable Property Adjustment Guide Comparable adjustment begins by choosing genuinely comparable properties; if legal status, use, micro-location or building class differs too much, a large numerical adjustment cannot rescue a poor comparable. Adjust one material difference at a time—area, floor, condition, view, parking, tenancy, payment terms or date—and document the evidence for direction and magnitude rather than using unexplained percentages.
Reconcile to a range, not a single false-precision number. If adjusted comparables scatter widely, investigate missing variables or reduce confidence instead of averaging away the conflict.
Valuation validity and property identity
For each fact use a source capable of proving it and link the result to its effect on purchase, ownership or cost. TKGM states that valuation reports issued before 9 December 2024 had a three-month validity window, while a Tutar Tespit Belgesi issued after that date has a six-month validity period; material changes to the property or application can also require a fresh valuation. TCMB housing price indices provide market-movement context, not the value of one unit. Keep inspection date, report date, methodology and comparables, legal versus actual area, restrictions and assumptions distinct, and never let one valuation figure replace title, zoning or building-status checks.
A valuation report should not be used outside its purpose, date and property identity. The review becomes useful when the finding is tied to a defined effect on rights, price, cost or executability and backed by evidence that can be rechecked later. Match the taşınmaz number, ada/parsel, independent-unit number and description to the transaction, and confirm the valuer is authorised within the SPK framework when such authorisation is required. Turn the review topic into provable facts: identity, date, amount, registry status, document or technical condition.
From market data to testable cash flow
For a capitalization rate, use NOI before debt service and distinguish property performance from leveraged equity return. For each fact use a source capable of proving it and link the result to its effect on purchase, ownership or cost. Any rent-growth, resale-price or interest-rate assumption should be stress-tested with alternative scenarios rather than accepted as a single forecast. Property investment analysis must separate market data from the calculation for the specific asset.
TCMB publishes the House Price Index to track housing-market price movements and, in 2026, began publishing the New Tenant Rent Index to capture new-rental price developments more quickly than rent measures that include existing contracts. The review becomes useful when the finding is tied to a defined effect on rights, price, cost or executability and backed by evidence that can be rechecked later. These indices do not provide the sale price or rent of one unit, so they must be combined with verifiable local comparables. Calculate gross yield from annual rent relative to price, then calculate net yield after vacancy, management, maintenance, insurance, taxes, dues and non-recoverable costs. Turn the review topic into provable facts: identity, date, amount, registry status, document or technical condition.
Property identity and the current registry
Match the name and identity or legal-entity details, province, district, neighbourhood, ada/parsel and the independent-unit number where applicable. Turn the review topic into provable facts: identity, date, amount, registry status, document or technical condition. Read mortgages, attachments, annotations, easements and other restrictions before a material commitment. Web Tapu allows applications for transactions such as sale, mortgage and inheritance transfer, but it does not make an earlier registry copy current evidence.
The review becomes useful when the finding is tied to a defined effect on rights, price, cost or executability and backed by evidence that can be rechecked later. If a representative acts, check the representation document against the party’s identity, scope of authority and transaction type. A mismatch in unit, share, owner or a newly added restriction requires the file to be reconciled again before payment or completion. The current TKGM land-registry record is the starting point for proving the owner and the property; an old title-deed copy or an advertisement is not a substitute. For each fact use a source capable of proving it and link the result to its effect on purchase, ownership or cost.