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Old 24th July 2008, 10:25   #1 (permalink)
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Foreigners buying property in Turkey?

Does anyone know if it's true that foreigners can now buy anywhere in Turkey? A friend told me that she had read in a newspaper that all Military Land had been abolished and that as foreigners we could now buy anywhere, I find this hard to believe but can't find any info anywhere. This would be great if true but then the Turkish Government would lose so much money on the taxes that companies pay for owning a property in restricted areas that I don't see how they afford to do this?

Any info would be great, I am dreaming of what to do with my spare money if I can close our company down!

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Old 24th July 2008, 10:34   #2 (permalink)
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Re: Foreigners buying property in Turkey?

this isnt true...the changes are that the Military wont be resposible for giving clearance...but Military land and other sensitive areas will remain restricted.
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Old 24th July 2008, 11:55   #3 (permalink)
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Re: Foreigners buying property in Turkey?

Thanks, I thought this sounded too good to be true!

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Old 24th July 2008, 12:46   #4 (permalink)
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Re: Foreigners buying property in Turkey?

Quote:
Originally Posted by shirleyanntr
this isnt true...the changes are that the Military wont be resposible for giving clearance...but Military land and other sensitive areas will remain restricted.
Shirley
I thought I understood it that even foreigners could possibly get permission to buy in military zones. It was not a straight forward ordeal and required special permission but that it might be possible. Did you or anyone else see this in the paper?

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Old 24th July 2008, 13:58   #5 (permalink)
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Re: Foreigners buying property in Turkey?

Quote:
Originally Posted by Sara-666
Does anyone know if it's true that foreigners can now buy anywhere in Turkey? A friend told me that she had read in a newspaper that all Military Land had been abolished and that as foreigners we could now buy anywhere, I find this hard to believe but can't find any info anywhere. This would be great if true but then the Turkish Government would lose so much money on the taxes that companies pay for owning a property in restricted areas that I don't see how they afford to do this?

Any info would be great, I am dreaming of what to do with my spare money if I can close our company down!

Regards
Sara
Unfortunately it's not true, or even close! The main change to the law is that a foreigner can now own up to but not more than 10% of a municipal area. So you can still spend your money, but in the same places you always could. Sorry!
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Old 25th July 2008, 09:08   #6 (permalink)
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Re: Foreigners buying property in Turkey?

Quote:
Originally Posted by Paul Clements
Hi Laura,

Any news on whether Didim/Altinkum has reached its quota for foreign buyers yet??

Thanks
Hi Paul

As I understand it, the law doesn't really work like that - the quota is a per-person quota so while one foreigner (or foreign company) can't own more than 10% of the residential land in a municipal area, lots of separate foreigners CAN own a total of more than 10%. I wouldn't be surprised if that was the case here in Didim - or at least would be the case if all those pending tapus were transferred to their buyers!
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Old 25th July 2008, 12:06   #7 (permalink)
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Re: Foreigners buying property in Turkey?

i think the 10% is being misunderstood.
10% of land in a municipal area can be used for foreign buyers...
so if an area has say 10,000 acres.. and some of this was already used or being planned for development by the municipality..for roads parks etc...for example 4000 acres...then out of the remaining area 10% would be available for development for foreign buyers...the figures im using are a simplification..just for example...and this is how i understand it.
if every person was allowed 10% of an area there would soon be nothing left!
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Last edited by shirleyanntr; 25th July 2008 at 12:10..
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Old 25th July 2008, 17:49   #8 (permalink)
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Re: Foreigners buying property in Turkey?

The concerns that 2 agents had when I was talking to them in
June was that some areas, they said Fethiye, Marmaris and Altinkum
already had more than 10% foreigners owning properties, So does
this mean that foreigners can no longer buy in those areas?, I have seen
nothing translated into sense making reading yet
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Old 25th July 2008, 18:02   #9 (permalink)
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Re: Foreigners buying property in Turkey?

HiCJD it isnt to do with numbers of foreigners..i mean you could be 20 living in one apartment..and the apartment is only a minuscule amount of land
the law is about limiting the amount of land available to foreigners.
if you take a place like alanya for example...after projects and planning that are already in place or projected ...as there must always be in any town planning...there will be a certain amount of land available for building..not only for foreigners but for also Turks..and it is from this amount that 10% will be available for development for foreign buyers.
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Old 28th July 2008, 17:01   #10 (permalink)
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Re: Foreigners buying property in Turkey?

Quote:
Originally Posted by Paul Clements
Thanks Laura. So is something going to be announced (somewhere) to say its OK for people to buy again in a particular area? I know the law has been passed, signed off and put in the official gazette, etc, does that mean its now OK or are we still waiting for a final hurdle to be cleared?
We're still waiting for final clearance - which means the local land registry offices are waiting for a letter from Central to tell them they can go ahead. It's possible some offices have already received this but at the time of writing, this hasn't happened in Didim yet.

As for what the 10% rule actually means - shirleyanntr you have me doubting myself now! I'm going to try and find out for sure. Watch this space!
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