Sales of Turkish property to foreigners halted

Article Date : Thursday, April 17, 2008

Turkey is not so keen to share all of its buildings Within the last 48 hours the Turkish government has declared a temporary ban on property sale to foreigners. This comes shortly after a freeze on sales to foreign companies.

Turkish newspaper Hürriyet stated that a letter was sent to all land registry offices in Turkey declaring an end to all foreign property sales.

Turkey has seen the purchase of some 63,000 properties by foreigners in recent times from numerous nationalities worldwide.

This will only effect the purchase of property from here on, sales underway at present with ownership papers or currently owned are not said to be affected. The ruling is said to be reviewed later in mid June this year.

The region of Istanbul has seen the periodical imposing of a ban like this many times in recent years, although purchases have been possible through Turkish owned companies in the area.

If you would like to discuss the implications of this move by the Turkish government further with others that are affected, please visit our Turkish forum and take part in our online poll.

Related Articles

Let Us find Property in Turkey for You

Fill out a requirements form and our experts will help you find a great selection of Properties for sale in Turkey.

Help me find property in Turkey

Subscribe to Our News Feed

Do you own or manage a real estate/property web site? You can publish Propertyshowrooms.com News on your website by using our RSS News Feed.

Media/Press Section

Are you a Press or Media professional? We have access to a wide and varied collection of data and statistics which may be of interest to you.

Journalists click here

List Your Property

Related Turkey News

Turkey 'offers alternative to Spain'
Overseas property owners who cannot afford a residence in Spain could find Turkey a good alternative, according to a new...
Turkey recommended to financially-stretched Britons
British consumers who are feeling the pinch from the ongoing credit crisis have been advised to consider visiting Turkey...
Tourism industry boost Turkish economy
Growing tourism in Turkey is having a positive impact on the national economy, according to official data.

Stat...
Turkey grows in popularity with holidaymakers
A holiday firm has revealed that Turkey is attracting more and more interest from British tourists.

According t...
Turkey offers bargain properties
Property analysts have highlighted the differences between property values in the UK and Turkey.

According to A...

Property News Search

Property Bulletin - Subscribe