Turkey's hot property market can reward risk-takers
By Brett Corbin International Herald Tribune
http://www.iht.com/articles/2006/07/06/news/returkey.php
Published: July 6, 2006
ISTANBUL for years buying property in Turkey was perceived as risky by many Westerners. The impression was changing until recent increases in interest rates in the United States and Europe diverted investments from emerging markets, including Turkey, and the lira lost 18 percent of its value in less than eight weeks.
But some analysts say that the economic turmoil is temporary and offers opportunities for those ready to face uncertainty. Continued...
6 July 2006
TURYAP sold 98 properties owned by TMSF during its 8th Real
Estate Auction
98 properties all around Turkey sold at 28 billion YTL on February
9th, 2006 in Istanbul Profilo Alisveris Merkezi Theater Hall.
20 February 2006
TURYAP will organize its 8th Real Estate Auction
on February 9th, 2006
224 exceptional property owned by Saving Deposit Insurance Fund (TMSF) will be sold in Istanbul Profilo Alisveris Merkezi Theater Hall.
This auction offers a unique opportunity to foreigners who would like
to invest in Turkish real estates. Turkey became the center of focus
for property investments just after the definition of negotiation dates
with EU. Following to the approval of the law facilitating the foreigners
acquire real estates in Turkey on December 2005, still-modest-value of
properties attracts foreigners who predict that their property investments
in Turkey will gain in value once Turkey becomes an EU member.
Continued...
27 January 2006
A statistical survey on real estate acquisition of
Foreign Real Persons in Turkey as of April 15, 2005
General Directorate of Turkish Land Registry Office has announced
a list of real estate acquisitions of foreign real persons in Turkey.
Continued...
27 January 2006
Real Estate Acquisition of Foreign Real Persons; Foreign Capital Companies and Foreign Companies in Turkey.
I. REAL ESTATE ACQUISITION OF FOREIGN
REAL PERSONS IN TURKEY
Real estate acquisition of foreign real and legal persons has been regulated
in the article 35 of the Land Registry Law numbered 2644 with law numbered
5444 and dated December 12,2005 which was established in the Official
Gazette of 26046 numbered and dated January 7,2006. New fundamental principles
was regulate with this new law for acquisition real estate of foreign
real persons and and trade companies having legal personality and established
in foreign countries according to the laws of these countries in Turkey.
Continued...
18 January 2006
Another honourable service
to the property
sector from Turyap
In accordance with the provisions of the regulation on elections of
Turkish Association of Chambers of Commerce, Turyap's Chairman,
Mr. Azmi Saribay was elected as a Corporate Member to the
Property Consultants Professional Committee no. 73 and an
Executive Member of the said Committee's Board.
Supporting and promoting every effort to give "estate agency" the prestige
it deserves from the day it was founded, Turyap now has its mission recognised
by all.
Continued...
29 March 2005
Turkish Grand National Assembly debated and approved the new draft bill on real estate acquisitions of foreigners in Turkey.
Real persons of foreign nationality and trade companies having legal personality established in foreign countries according to the laws of these countries can acquire real estate within the boundaries of the Republic of Turkey.
However trusts, associations, cooperatives, social bodies, communities and religious communities, shall neither be entitled to acquire real estate in Turkey nor be established a limited leasehold estate for their favor.
The law facilitating the foreigners acquire real estates in Turkey was revoked by the Constitutional Court in March, 2005, stating that the legal guarantees and restrictions are insufficient from the standpoint of the Constitution. The ammended draftbill proposed, debated and approved last night by The Assembly. December 29, 2005 Thursday
New legislation regulating the foreigners' acquisition
of property in Turkey is being drafted…
Here is what it entails...
Pursuant to the constitutional ban on the subject, certain restrictions on the foreigners' acquisition
of property will be imposed. Following on from the constitutional ban of the Act which facilitated
foreigners' purchase of property, the Commission formed to formulate the new regulation
has now prepared a draft.
Continued...
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