Turkey

Foreigners free to buy land


Published

President Abdullah Gul has signed a decree which allows foreigners from 89 countries, for the first time, to buy land and property in Turkey. Previously the law had only allowed for foreigners from countries which allowed Turkish nationals to buy land to reciprocate in Turkey.

The new law will allow foreigners to buy property and up to 60 hectares of land with the usual caveats relating to planning permission.

The law does prohibit more than 10% of land being sold to foreigners in any province. Only individuals and businesses will be permitted to buy land and property and not state institutions or state owned enterprises.

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