File photo shows a close-up view of a real estate listing website on a computer screen. (Adobe Stock Photo)

August 18, 2025 10:16 AM GMT+03:00

Türkiye’s Ministry of Trade has stepped up enforcement against deceptive real estate ads, imposing administrative fines totaling ₺137 million ($3.36 million) on 1,158 real estate businesses.

A new electronic listing verification system (EIDS) now checks the identity and authorization of listing owners to weed out fake profiles and unauthorized brokers.

Verification tightens market

Officials are using EIDS to verify who posts each listing, while an electronic listing information system (EIBS) is helping strengthen public oversight.

Experts say the measures aim to curb off-the-books brokerage and reduce practices that push prices up without market justification.

Trust is rising, but workarounds remain

Speaking to Hurriyet’s Ismail Sari, International real estate specialist Ozden Cimen said the policy has boosted confidence during a period of record housing transactions, noting that buyers feel safer and sellers face a more transparent process. Cimen also said EIBS has made official inspections more effective.

Real estate expert Emir Pakkan likewise pointed to fewer unlicensed brokers and fewer fake ads, explaining that the system has largely blocked people without an authorization certificate from posting.

According to Pakkan, users now “carry less of the worry ‘Is this listing real?’” because identities and permissions are verified. He cautioned, however, that bad actors still try to slip through by using false IDs or third parties.

What to watch for in suspicious listing

Cimen advised buyers not to fixate on price alone, but to weigh location, building age, and the past profile of the person posting the ad, and to work with established firms.

Pakkan flagged common red flags: prices far below local comparables, vague or incomplete addresses, a single photo or overly polished but empty-unit images, inconsistent technical details (size, floor, age), and phone numbers with mismatched area codes.

Deposit scams: pressure tactics and no refunds

Pakkan described how scammers lure targets with ultra-low prices and urgency tags such as “urgent,” “only today deposit,” or “because of moving.” They ask for a deposit (kapora) upfront to reserve the home—often before any viewing—then cut contact. He warned that deposits sent without a signed contract are rarely recovered.

Cimen said secure payment rails offered by banks—already used in vehicle sales—should also be used for home purchases. Wider adoption, he noted, could reduce fraud in property transactions.

Istanbul’s price pressure and periodic manipulation

Cimen said price spikes can form in certain periods in Istanbul, where more than 500,000 new university students arrive each year and job seekers keep moving in, driving up rental demand.

He added that some players restrict supply to push prices higher, and that such manipulative moves tend to cluster in specific periods.

August 18, 2025 10:16 AM GMT+03:00