The Turkish government looks to encourage the the purchase of property in Turkey by foreign buyers by relaxing the rules governing the foreign property ownership in Turkey.

The current law operates under the principle of reciprocity , which allows means people can only purchase property in the country if Turks can buy homes in the buyer's country. This rule limit foreign ownership of properties across Turkey, working on a system which means people can only purchase property in the country if Turks can buy homes in the buyer's country.

Recently, Turkish government realized and taken measures to relax the laws in order to attract foreign invest in the country's housing market. Investors from Middle East are not currently permitted to buy properties in Turkey, it has been decided that the rules should be reviewed.

Earlier, Turkey's government banned overseas investors from acquiring real estate in the country in April 2008, but has subsequently lifted the restriction, and In place of the ban are limitations on the percentage of the local planning zone for a town that can be bought by foreigners. These recent changes to laws in Turkey by foreign buyers have been welcomed by experts in the sector.

Labels: Property-law