change in law effects foreigners purchasing property and land

[Kalkankiwi]

I refer to some extracts from articles I found after a quick google search. Also the Daily Telegraph referred to a similar limit in its favourable article on Turkey and Kalkan yesteday.

Article 1: “Previously, non-nationals could buy up to 0.5% of the land in a province; this is now limited to 10% of any town, city or resort, which is still a huge area.”

Article 2:
What foreigners can buy in terms of property in Turkey

> Property and land within an officially zoned planning area which includes all the country’s towns, cities and resort areas
What foreigners can’t buy
> Property and land in rural areas (un-zoned)
> Property in the immediate vicinity of a military zone
> More than 10% of a planning area

Article 3:
The new legislation governs that non Turkish nationals can only purchase 10% of a total area covered by a local planning zone in any town. This differs from the original act which allowed foreigners to purchase 0.5% of the total land area of a province, opposed to a single town.
There are also further changes, one of which is giving power to the Council of Ministers to change the 10% limit for each town by considering the towns economic status and infrastructure. This change however can only be reduced, not increased.

Daily Telegraph Article can be found at:
http://www.telegraph.co.uk/property/main.jhtml?xml=/property/2008/06/14/opturkey114.xml

My understanding is that the legislation is still being debated in parliament and is a long way from been resolved after reading this article from the Turkish Daily News: http://www.turkishdailynews.com.tr/article.php?enewsid=107169

I keep my fingers crossed.

KK

[Cosetta]

Pete, glad you expanded my comment, you are quite right on all counts.  It is also true what you say about Spain and Portugal and ''offshore company'' owners who end up paying much more -- not to mention the hassle and the paperwork -- just to be able to sell their properties.  These are all situations to avoid.

[hel66]

I was told by an estate agent that the law had gone thru 3 days ago and it is now possible to once again purchase?

[marking]

Hell66,
  This is not the case