The implementation deadline for the new property payment system has been postponed for three months. The new secure system for real estate sales was originally set to take effect on July 1, 2026. However, on June 26, the Ministry of Commerce shared an announcement on its website saying that the deadline has been postponed to October 1, 2026.
What is the Secure Payment System for Real Estate?
This secure payment system is already in use for sales of second-hand vehicles. It will be mandatory for all real estate transactions where payment is made fully or partially in cash, wire transfer, or electronic fund transfer. The aim here is to make the process more secure with an escrow model since cash payments are widely used when buying property in Turkey. In this system, the payment and the title deed transfer are completed at the same time through a third-party bank or authorized financial institution. Previously, manual payments and cash transactions were handled outside any regulated system, leaving both parties exposed to significant risks. The implementation of the new system is set to prevent fraud, eliminate the risks of carrying large amounts of cash, and encourage registered transactions while protecting both sellers and buyers.
Why the Deadline Was Postponed
Since the mechanisms require thorough coordination between multiple institutions, a commission from the Ministry has been formed to oversee the technical process. However, the integration and technical challenges have led to the delay. The Ministry had previously been granted the right to extend the date by up to three months within the legislation. They have now exercised this right, with October 1 set as the final possible deadline.
According to the announcement, the Ministry of Commerce is continuing its efforts in cooperation with the General Directorate of the Land Registry and Cadastre and other stakeholders to ensure a successful implementation.
Until October, the existing system remains in effect for property sales in Istanbul and across Turkey.
