Foreigners Barred from Purchasing Real Estate in Turkey

Foreigners Barred from Purchasing Real Estate in Turkey

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A Turkish Constitutional Court ruling effective from today (Wednesday April 16) has put a temporary halt on the sale of Turkish property to foreigners.

According to Turkish newspaper Harriyet, a circular letter was sent to all land registry offices in Turkey indicating the end of the sale of real estate to foreigners on Tuesday April 15.

The law only applies to new purchases and does not restrict the sale of properties to Turkish citizens by foreigners that already own property in Turkey. It has come into effect just after another recent legislation preventing foreign companies from acquiring land or property through local joint ventures for property development purposes.

Turkish property has proved very popular especially amongst Brits, Germans and Greek buyers with a total of 73,103 foreign purchasers of 63,085 Turkish properties.

Read more on Turkish Daily News.