Calis Beach and Fethiye Turkey Discussion Forum
Property For Sale in Calis Beach & Turkey => Buying Property in Calis Beach, Fethiye and Turkey => Topic started by: Translator on May 15, 2011, 18:35:59 PM
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COURT PAVES THE WAY FOR FOREIGN PROPERTY SALES
Constitutional court paves the way for foreigners to purchase property in Turkey.
Constitutional court this time allowed the amendment to the law regarding the rights of foreigners to purchase property in Turkey. Up to %10 of the zoned land in "town" basis can now be sold. The Supreme Court has made a fundamental decision in this matter the other day. It was decreed that permitting the persons mentioned in Article 35 in regards to allowing them to purchase up to %10 of the zoned land was found in compliance with the constitution and a request for abolishing of t5he provisions of said article was declined. The Regulation mentioned in article 36 in regards to allowing the foreign corporate identities formed in Turkey to obtain immovable property in Turkey was found to be in accrodance with the Constitution and a request for abolishment was declined. As such, corporate identities that have purchased property n Turkey "for the purpose of continuing their activities" is from now on permitted and the rights associated can be transferred and assigned to another foreign corporate body....
Cheers
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Can we have that in english please :-)
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So, what does it mean then ?
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It means that from 14th May 2011, non-Turkish people can buy property in Turkey. Similar to the 13th of May really ;)
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and you never let on Keith 8) :o:D
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In seriousness I have to say that as far as I understand it, the main opposition party tried to get the law that allows foreigners to buy in Turkey suspended - by seeking a review of it - which would place us all back to the days of a couple of years ago where no tapus could be issued to non-nationals for eight months while the law was debated by very boring people in parliament. My understanding is that this was a fairly negative move to cause hardship and negatively to the government, but was rejected anyway.
It's a very complicated situation and I'm sure people better qualified than me can explain it more accurately.
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I second Scunner's comments. I gues it is best if a lawyer or real estate professional explains it in more sensible way.
My understanding is; business as usual, with less hassles..
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Main oposition party aplied to court to cancel the law on foreigners' buying properties in Turkey. Court refused to cancel all law. They cancelled an article of that law. It is not easy but I will try to explain.
Foreigners are allowed to buy, but there is a limit, all purchases in a town can not be more than %10 of that town area. This area is the area that have planning permission. Law says foreigners can go on buying till this percentage is defined. Court cancelled only this article. The amount of the lands, bought by foreigners will be defined by deed offices and problem will be sorted. Sure they already have all data in their computer system.