Sales of Turkish property to foreigners halted

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.

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