Turkish government has forbidden selling real estate to foreigners
18 April 2008In Turkey sale of the real estate to foreign citizens is temporarily stopped. The ministry of public works and settling of the country has declared about it today.
Three months ago the similar decision was published by the Constitutional court of Turkey. Now new rules are directed on approval to Ministerial council.
According to edition Hurryet, on Tuesday in all ground departments of the country the decision of the ministry temporarily forbidding sale of the real estate to foreigners has been dispatched. Now authorities of Turkey do not give out the certificate on registration of the property right.
As the representative of company Kutup Gayrimenkul&Real Estate has explained, the given interdiction has been entered to secure foreign citizens, who get the real estate in Turkey from unfair realtors.
In the further the right to sale of the real estate in Turkey to foreigners will be given only to those companies which have official representation in those countries where the potential buyers live.
At the moment 73,103 thousand foreigners became the buyers of 63,085 thousand objects of the real estate in Turkey. For last three years the volume of direct foreign investments into the country has made $3 billion.
