Turkish law changes welcomed

Thursday August 28th , 2008

The recent changes to laws around the purchase of property in Turkey by foreign buyers have been welcomed by experts in the sector.

Turkey's government banned overseas investors from acquiring real estate in the country in April 2008, but has subsequently lifted the restriction, reports the International Herald Tribune.

In place of the ban are limitations on the percentage of the local planning zone for a town that can be bought by foreigners.

However, John Howell, senior partner at International Law Partnership, said that this change is not likely to affect individual buyers.

He commented: "The new legislation should act in the opposite way and ease worries.

"Buyers know exactly where they stand and what they are permitted to purchase."

Property Wire reports that coastal property in Turkey is particularly desirable and that the value of houses in Kalkan has soared in recent months.