Tuesday, 10 July 2012

Turkey Will Revise Its Reciprocity Law to Boost Foreign Direct Investment in Real Estate

In 2002, Turkey opened its real estate market to foreign nationals. Prior to 2002, acquisition of real estate in Turkey by foreign nationals was not permitted. When the government passed the bill in 2002 allowing foreign nationals to acquire property in Turkey, necessary ticks and checks that should have been in place were not implemented.
It gave rights to most foreign nationals to purchase property in pretty much all areas of Turkey with very little restriction as to region and size,

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