Real Estate and Asset Valuation specialization is a new profession very much required by the Turkish Economy and Markets. The subject of Real Estate and Asset Valuation is independent determination by the hand of a valuation specialist of values of real estate, estate and related rights and liabilities, assets registered in the balance sheets of companies and banks, guarantees taken by the same, rights and liabilities arising from the agreements they signed, and many assets alike on a certain date. Real Estate and Asset Valuation Department is a 4-year department opened for the first time in this field in Turkey to raise valuation specialists and prepare students for SPK Valuation Specialization Exams.
A valuation specialist is a professional who engages in valuation activity. Valuation specialists may work in valuation companies by a service contract or they may work as self-employed specialists. To become a valuation specialist, one has to graduate from a four-year higher education institution and must have obtained a Valuation Specialist License granted by Turkish Capital Market Board (SPK).
Some international institutions have been formed to determine the rules to be followed during valuation processes and the international standards on the qualifications of valuation specialists. Among these institutions are: International Valuation Standards Committee, Appraisal Institute, Institute of Real Estate Management, etc. Existence of numerous international institutions on the subject of valuation is an indicator that shows how much importance this profession has gained internationally. Government institutions in Turkey on this subject are the Capital Market Board (SPK) and Banking Regulation and Supervision Agency (BDDK). Our department gives great weight to professional English courses because of the international dimension of the subject.
Valuation is related to the following activities: Real and financial market transactions such as expropriation, privatization, sales, and mortgage. Enterprises related to this subject are banks, loan demanders, public-owned companies, real estate investment partnerships, and factoring and financial leasing firms. The Banking Regulation and Supervision Agency (BDDK) published a regulation on 29 September 2007 pertaining to valuation, which obligates valuation companies to report the real estate taken as warranty for commercial loans or pledged within the scope of mortgage. All these emphasize how important the profession is. There is great demand for valuation activities in Turkey. This demand will further increase in the near future. However, there is not an adequate number of independent valuation companies and valuation specialists that may meet such demand.
Our faculty comprises primarily of highly qualified members of the SAS. One of our superiorities in the subject of teaching is that we will be hosting active and experienced people who are actively working in the fields of applied real estate valuation, title deed registration and cadastre as guest academic members. Our faculty members in applied education will certainly equip our students with the highest practical and application abilities.
Fields of employment and work for the graduates of SAS Real Estate and Asset Valuation Department are: banks and financial leasing firms; real estate management and estate consultancies; planning institutions; real estate investment partnerships; land and parcels development and building enterprises (such as Housing Development Administration (TOKİ)); construction, estate and expropriation units of public institutions; mapping and construction companies; mortgage and real estate valuation (appraisal) companies; real estate project development; management and auditing institutions; insurance companies; privatization administration; tax administration; and general directorate of national estate.
It is clear from the copious and diverse working areas mentioned above that the graduates of the department will not experience any difficulty in finding a job and working. Favoring our department by the talented students who are interested in this subject will constitute the greatest contribution in the development of our university.
Head of Department