Buying and Selling Real Estate

As House Sales Turkey has previously revealed, Minister Erdogan Bayraktar of Turkey’s Justice and Development Party (AK Party) government is proposing changes to the current law which states that foreign citizens can only buy real estate in Turkey if there is a reciprocity agreement in their country of origin that allows Turkish citizens to buy property there. At the moment, the only way around this reciprocity agreement is for the foreign purchasers to set up a company in Turkey, something which was deemed too costly and lengthy by some. It was thought by some, including Minister Erdogan Bayraktar, that this legislation was out of date and needed to be overturned if the market for property in Turkey was to reach its full potential.

Once the proposed lifting of these reciprocity restrictions goes through, it is thought that this change in property law will spur on a massive boost to the real estate market, by as much as $10 million if reports in the Turkish national newspaper Sabah are to be believed. Allowing more non-Turkish nationals to buy real estate in Turkey “will create a $10 billion real estate market spurred by sales to Arabs”, according to the paper. In fact the article reveals that this boost to the real estate market has already begun, with real estate companies from Saudi Arabia and Kuwait already having opened up offices in the countries in order to profit from the expected influx of interest. Saudi Arabia’s Saudi Binladin Group and Kuwait’s Mena Real Estate have both opened units in Turkey in recent weeks in anticipation of the change, the newspaper said.

Minister Erdogan Bayraktar is the Urban Planning Minister for Turkey and is expected to lift the reciprocity restrictions in just a few days time. According to the Chairman of the Turkish real estate trust association GYODER, Isik Gokkaya, “passage of the legislation is expected to spur purchases from buyers in Saudi Arabia, Syria, Dubai, Azerbaijan, Qatar and Iran”.
House Sales Turkey matches vendors with potential purchasers of property in Turkey from all over the world, with transactions varying from villas in Turkey for holiday home usage to apartments in the country for investment. If you have any other questions or queries, or if your simply interested with our business and what we can do for you, you can find out more about our business on our website, or if you would prefer, you can contact us via phone or email at your own convenience.

House Sales Turkey are market leaders for property Turkey. Leading real estate Turkey with the latest Turkey property available to view online. Options to sell property Turkey as well as market news and advice

Silk scarves, handmade jewellery, and aromatic spices are all on display. However, where are the prices? This is where the bazaar is different from your supermarket or department store back home, because there are no set prices. The merchant will state their selling price, and you are free to haggle, barter and negotiate the price [...]

Read Entire Article -->

However, there is no need to worry about the legal process of buying a property in Turkey as it is not as difficult as you might imagine. The procedures here are actually simpler than in most other European countries. Receiving the Tapu or Title Deeds Any foreigner can purchase property in Turkey as long as [...]

Read Entire Article -->

If you have set your sights on investing in Turkish property, which type of property should you choose, city or resort, and why? An international property investor will first consider the country where they want to purchase, then the region, and finally the type of property. All investors will have an approximate budget for their [...]

Read Entire Article -->

Owning one of the many beautiful villas in Turkey means that you will spend your holidays hiking through ancient ruins, swimming in the warm blue sea, and dining at delicious local restaurants. What is there not to love about spending time in this beautiful setting? The process of buying villas in Turkey can be somewhat [...]

Read Entire Article -->

Owning one of the many beautiful villas in Turkey means that you will spend your holidays hiking through ancient ruins, swimming in the warm blue sea, and dining at delicious local restaurants. What is there not to love about spending time in this beautiful setting? The process of buying villas in Turkey can be somewhat [...]

Read Entire Article -->

Many foreign investors seeking a home or an investment abroad are drawn towards property in Bulgaria for these reasons and more. However, what are the most popular locations where people are buying property in Bulgaria? Which parts of the country are the foreign investment hotspots? Sofia The capital and largest city in the country, Sofia [...]

Read Entire Article -->

If you are interested in purchasing a beautiful old home and recreating a period atmosphere, there are many fine examples of older Bulgarian property to choose from. Many gorgeous homes from the Bulgarian Revival Period can be found in the cities, such as in the Old Town of Plovdiv. These older homes feature open porches, [...]

Read Entire Article -->

Many foreign homebuyers flock to this region because it offers fantastic skiing, beautiful rugged mountain scenery, fresh air, and is the southern-most ski resort in Europe. The nearby Mount Snejanke towers an impressive 1926 m above sea level and offers challenging ski runs for beginners as well as experts. The rugged pine forests dusted with [...]

Read Entire Article -->

Bulgaria, and other ex-communist Eastern European countries, has emerged as the best value for money when it comes to buying property. The proximity of Bulgaria to the UK, as well as its fascinating culture and beautiful landscapes, are some of the reasons why so many people are looking towards Bulgarian property. In particular, rural Bulgarian [...]

Read Entire Article -->