TKGM describes Web Tapu as the platform for online applications for land-registry
TKGM describes Web Tapu as the platform for online applications for land-registry transactions such as sale, mortgage and inheritance transfer before visiting the land-registry office. SPK describes real-estate valuation as the professional reporting of the fair value of real estate and related rights and regulates valuation activity in the capital-market context.
Property comparison matrix: normalize before ranking
A useful comparison does not begin by placing five homes in a coloured table. It begins by defining every column consistently. Price should have a common date, currency and cost basis after adding expenses the buyer will actually bear. Area should say whether it is net or gross and how it was defined. Room count should compare usable layouts rather than only labels such as 2+1 or 3+1.
Split the matrix into verifiable facts and estimates. Facts can include title identity, encumbrances, permits/occupancy where relevant, aidat, area, existing tenancy and project phase. Estimates include resale liquidity, view quality, future demand or growth. Do not give an estimate a green colour that makes it look like an official fact; show source, date and confidence.
For market context, TCMB’s Housing Price Index can describe broader price movement, but it does not value an individual apartment. A professional valuation or genuine comparable sales are closer to unit-level value and still require adjustments for age, floor, orientation, refurbishment, parking, occupancy and title restrictions. An area average should not be applied mechanically to a unique property.
Build weights around the buyer’s objective. A family may place more weight on transport, school access and usable space; an investor may prioritize net yield, vacancy, liquidity and exit cost; a buyer with financing or citizenship constraints may need additional filters. If the goal changes, the ranking should change. A matrix that produces the same winner for every person is probably hiding its assumptions.
Record elimination reasons, not only scores. A well-priced property can fail because of an unacceptable title issue, unverified area or major maintenance obligation. Conversely, a cosmetic defect should not receive the same severity as a legal defect. Rank risks by their ability to be cured, cost and timing.
Before commitment, refresh price, availability, title and aidat because a matrix ages quickly. Save a dated version so a reviewer can reconstruct why property A ranked above B on the decision date. The result becomes an auditable decision tool rather than a sales interface.
Market value is not the same thing as listing price. A listing is a seller’s asking price at a point in time; a professional valuation forms an opinion of value from property characteristics, location, registered rights, comparable evidence and valuation methodology. SPK publishes authorised real-estate valuation organisations in its sphere, while TKGM sets report requirements for transactions covered by its system, so the file should identify why a report was prepared, who required it and whether its date is acceptable for the specific transaction.
TCMB indices such as the Housing Price Index are useful for broad market direction but do not value a specific unit. The Central Bank publishes methodology and revisions, and statistical series can be revised; preserve the data vintage and date rather than comparing an old observation from a previous method to a current figure without qualification. The commercial property index likewise describes a broad segment, not one shop or office.
Investment comparison should separate price per area, net and gross measurement, occupancy, building age, floor, orientation, quality, operating charges, financeability and liquidity. Seasonality and transaction volume can provide market context, but they do not replace real comparables for the subject property and do not prove that an advertised discount is a genuine opportunity.
When comparing rental yield, use the same income definition: gross or net after vacancy, aidat, maintenance and relevant tax. Comparing one property’s gross yield with another property’s net yield produces a misleading ranking even if each formula is mathematically correct.
A market index and a unit valuation are not the same thing
TCMB’s Housing Price Index tracks price changes in the housing market; it does not establish the fair value of one particular apartment. Separately, the Capital Markets Board regulates real-estate valuation organizations within its framework. A comparison matrix should therefore keep three columns apart: dated market-wide data, verifiable property facts, and property-specific analytical estimates. Do not turn an index increase into automatic proof that a particular unit appreciated by the same percentage; location, physical condition, legal rights and restrictions, tenancy and unit specifications can materially change the result.