17.09.2024 14:12
The Ministry of Trade has imposed a total of 126 million TL in fines on 2036 individuals who engage in manipulative price increases and engage in real estate trading without an authorization certificate. The authorization verification application introduced to real estate advertisements through the Electronic Advertisement Verification System will become mandatory in 2025.
The Ministry of Commerce took action as soon as the regulation regarding real estate advertisements came into effect. Companies that were found to have made manipulative price increases in housing advertisements, engaged in real estate trading activities without authorization, or operated in violation of the regulations were identified one by one and subjected to punitive measures.
The 'authorization verification' application introduced by the Ministry of Commerce within the scope of the Electronic Advertisement Verification System (EİDS) was put into operation for real estate advertisements as of September 15, 2024. With the authorization verification application, real estate advertisements on advertisement platforms can only be provided by 'authorized' real estate agencies authorized by the real estate owner, the first and second degree blood relatives of the real estate owner, or the spouse of the real estate owner through EİDS. Real estate agencies that do not have the real estate trading authorization certificate required by the ministry will not be able to enter advertisements.
PLEASE PAY ATTENTION TO THE VERIFIED ADVERTISEMENT
During the transition period between September 15 and December 31, 2024, it will be possible to place advertisements without verification. However, verified advertisements will feature the EİDS logo. As of January 1, 2025, advertisements cannot be placed without authorization verification, and the application will be fully implemented.
FINE UP TO 158,000 LIRA
The Ministry of Commerce will closely monitor real estate advertisements in the future. After the full implementation of EİDS, administrative fines ranging from 15,846 Turkish liras to 158,460 Turkish liras can be imposed for each advertisement published in violation of the legislation. These fine amounts will be increased according to the revaluation rate in 2025.
Furthermore, it was stated that a total of 2,036 individuals and legal entities, who were found to have made manipulative price increases in real estate advertisements, engaged in real estate trading activities without authorization, or operated in violation of the regulations, have been subjected to approximately 126 million TL in administrative fines.