Turkey starts sale of property to foreigners

The new bill enables foreigners and foreign companies to purchase real estate up to 10 percent of areas in the zoning plan.

Turkey starts sale of property to foreigners
Sale of property to foreigners will restart after enactment of a new law on sale of real estates to foreigners.

After Turkey's top court temporarily invalidated the law that allowed sale of real estates to foreigners on March 12th, a new bill was adopted by Turkish parliament on July 3rd.

Sales will restart after release of a decree on application of the new bill.

The new bill enables foreigners and foreign companies to purchase real estate up to 10 percent of areas in the zoning plan. The bill also authorizes the Council of Ministers to change the percentage (not more than 10 percent), taking into consideration the significance of towns in terms of infrastructure, economy, energy, environment, culture and agriculture

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Last Mod: 15 Temmuz 2008, 16:51
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