Foreign Purchases of Real Estate in Turkey | Foreign Purchases Real Estate Turkey

Foreign Purchases Of Real Estate In Turkey

Purchasing property in Turkey has become more popular with holiday home owners and investors around the globe. Several factors have contributed to the popularity and the trend displayed by foreign purchases and have had important repercussions within Turkey. The issue is especially notable given Turkey's potential EU membership and the related economic integration processes. In 2003, property purchases were opened up to foreign nationals with restrictions on the provinces. When these restrictions were violated in 2005, the law was annulled by Turkish courts; despite this, property purchases continue. As of 2008, 63,085 individual properties have been sold to over 73,103 different foreigners. This amounts to 38,623,661 square metres (415,741,630 sq ft) of land, and US$10.4 billion of foreign investment, mostly by German, British and Greek citizens.

Famous quotes containing the words foreign, real, estate and/or turkey:

“Let us waive that agitated national topic, as to whether such multitudes of foreign poor should be landed on our American shores; let us waive it, with the one only thought, that if they can get here, they have God’s right to come.”
—Herman Melville (1819–1891)

“But even suppose blood should flow. Is there not a sort of blood shed when the conscience is wounded? Through this wound a man’s real manhood and immortality flow out, and he bleeds to an everlasting death. I see this blood flowing now.”
—Henry David Thoreau (1817–1862)

“I ‘gin to be aweary of the sun,
And wish th’ estate o’ the world were now undone.”
—William Shakespeare (1564–1616)

“In the land of turkeys in turkey weather
At the base of the statue, we go round and round.
What a beautiful history, beautiful surprise!
Monsieur is on horseback. The horse is covered with mice.”
—Wallace Stevens (1879–1955)