Property Abroad News | Overseas Property News | News Articles

Facebook Linkedin Twitter RSS
Your have 0 properties in your shortlist - View Shortlist >>

Refine Your Search

Lawyer Backs New Turkish Regulations

News Posted On: 28 August 2008

New regulations surrounding foreign purchases of property in Turkey have been backed by a lawyer at the UK-based International Law Partnership (ILP).

In April 2008, the Turkish government banned foreigners from purchasing houses in the country, but this restriction was lifted a few weeks ago, reports the International Herald Tribune.

Since then, the law has been changed to limit the proportion of the local planning zone for a town that can be bought by overseas investors to ten per cent.

John Howell, senior partner at ILP, said that the new system should ease the worries of individuals looking to purchase a Turkish property.

"Buyers know exactly where they stand and what they are permitted to purchase," he added.

He asserted his belief that the new law would not affect individual house-hunters and could even act in their favour.

In the past five years, over $10 billion (£5.4 billion) was spent on property in Turkey by overseas investors, according to the latest figures.

Property Abroad - for your overseas mortgages, buyers guides and the latest news on buying property in Turkey.ADNFCR-1810-ID-18753872-ADNFCR

Back to news articles for this country

Overseas Property News

Story Behind Growth of Turkeys Real Estate

Turkey has seen the fastest recovery of real estate in Europe after Spain and Italy. Property values.....

Real Estate in Turkey a Hot Favorite with Gulf Investors

Real estate in Turkey has been in the limelight for some time now and it is all because of the large.....

Turkey Property Transactions Record High Gulf Investment in 2014

According to a latest report by Turkish Finance Ministry, the country’s property market continues to.....