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Turkish parliament allow property sell to foreigners

Turkish parliament allow property sell to foreigners - Real Estate - Property - Turkey - Foreigners - Parliament - Constitutional Court

The Turkish parliament approved late Wednesday a government bill that allows sale of property to foreigners following the annulment of a similar law by the Constitutional Court.

According to the bill, foreigners will be not allowed to purchase property in irrigation, agricultural, religious, cultural, archaeological, strategic and specially protected areas, as well as areas protected for their unique characteristics such as energy resources and mines, and flora and fauna reserves.

The bill authorizes the Council of Ministers to change the percentage --not more than 10 percent-- taking into consideration the significance of towns in terms of infrastructure, economy, energy, environment, culture, agriculture and the like.

Housing Minister Faruk Nafiz Ozak said Turkish people own 220,000 properties in Germany; however, the number of properties sold to foreigners was 65,000 in Turkey, at the parliamentary session held for the bill.

"Not even one inch of land in the Southeastern Anatolia Project region was sold to Greek nationals. Seventy-two Israeli nationals have a total of 100 immovable properties in Turkey. And, there are no foreigners buying real estate around the Fener Greek Orthodox Patriarchate," he said when the opposition criticized the bill.

The Ministry of Public Works and Settlement temporarily halted Turkish property sales to foreigners at the beginning of April inline with a Constitutional Court ruling three months prior.


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