Turkey mandates Safe Payment System for real estate sales

Turkey has updated its regulations regarding real estate transactions, establishing a mandatory ‘Safe Payment System’ to manage payment processes through a designated technical infrastructure. The amendment to the Regulation on Real Estate Trade was published in the Official Gazette.

The Ministry of Trade will authorize an integrator to establish, operate, and develop the system. This integrator will also be responsible for generating statistical data and reports related to real estate sales. The specific principles for the system's operation, including the scope of transactions that may be excluded and the sharing of usage fees, will be determined through a protocol between the Ministry of Trade, the Ministry of Environment, Urbanization and Climate Change, and the authorized integrator.

While initial reports indicated an earlier timeline, the mandatory implementation date for the Safe Payment System has been set for December 1, 2026. This replaces the previously scheduled date of July 1, 2026.