Turkey opens up property market to over 129 countries

Posted on September 20, 2012 · Posted in Chris Mansfield - Blog

Properties in Turkey will now be saleable to millions of potential investors.

Whilst the doors are open, they aren’t ‘wide’ open as there will be restrictions such as number of Turkish properties each investor can own.

Turkish property

Image by yourdon via Flickr

The Turkish government looks set to approve a new decree that will allow buyers from 129 countries to enter its property market.

In May the Turkish government enacted a bill abolishing a reciprocity ruling that banned Turkish property purchases by citizens of countries where Turkish nationals couldn’t buy real estate.

The bill also increased the amount of land foreign nationals are able to buy in Turkey from 30 to 60 hectares. The cabinet decree defining who can buy is now to be approved by the Turkish government and will see a further 52 formerly prohibited countries added to the buying process. Read more at propertycommunity.com

If you would like more information about what this bill means for Turkey as a whole, than be sure to get in touch via our contact page.