Changes to Turkish property law 'boost the market'
By Steve Binge

Changes to Turkish property law 'boost the market'

The real estate market in Turkey has received a boost following the government's decision to open the property sector up to a greater number of overseas buyers.

Earlier this year, Turkey announced it will relax restrictions on foreign purchasers from a variety of locations, including Russia and Greece.

Managing director of Oceanwide Properties Suleyman Akbay commented: "In real estate terms, Turkey has lit its own torch for 2012 through its new property law."

He added that investing in real estate in Turkey is an increasingly attractive proposition, due to the ongoing problems in the eurozone, the value for money it offers and continued growth within the market.

Last month, Colordarcy's managing director Loxley McKenzie voiced his faith in the Turkish property sector, dismissing suggestions that there is a bubble in the country's real estate industry.

The firm highlighted a buoyant tourism sector, as well as a strong retail environment as two signs that the Turkish economy as a whole is thriving, with Mr McKenzie stating this indicates a greater number of people will also be in the market for property.
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