Mandatory Secure Payment System for Real Estate Sales Postponed
The Ministry of Trade has updated the start date of the practice aimed at reducing fraud risks in real estate transactions.
In a statement made by the Ministry of Trade, the date on which the secure payment system will become mandatory for real estate sales has been re-determined as December 1, 2026.
Purpose and Scope of the System
It is aimed to protect buyers and sellers against the risks of fraud and forgery in real estate sales. The objectives include reducing informalities and carrying out money transfers in a secure environment. In this direction, amendments were made to the Regulation on Real Estate Trade on April 29, 2026.
It is envisaged to use the Secure Payment System, which ensures the simultaneous exchange of funds when the sales price is paid via cash, wire transfer, or EFT.
Technical Studies and Infrastructure Process
Necessary technical work for the implementation of the system is being carried out in cooperation with the General Directorate of Land Registry and Cadastre. The technical infrastructure for data sharing between TKGM information systems and banks has been prepared, and banks' infrastructure works are ongoing.
It is expected that integration processes will be completed so that the system can operate effectively and uninterruptedly with all its components.
Integrator and Pilot Application Plan
It has been decided to appoint an integrator to accelerate data sharing between TKGM systems and banks and the establishment of the technical infrastructure. Following the readiness of the bank infrastructures, a pilot application for the system is projected to be launched.