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Turkey Property sales to foreigners have come to a halt,

Discussion in 'Turkey property' started by TH4S, Apr 17, 2008.

  1. TH4S

    TH4S New Member

    Qouted from the turkish daily news..17.april 2008

     
  2. Yogi

    Yogi New Member

    In your opinion TH4S what will this do to the property market in Turkey and how temporary is 'temporary'?
     
  3. TH4S

    TH4S New Member

  4. TH4S

    TH4S New Member

    18.04.2008 Today’s Zaman

    ;)
     
  5. New Home in Turkey

    New Home in Turkey New Member

    I've been personally talking with several officials and MP's and, although worried at the beginning, I have to say that after the talks i feel much better.

    There is no room for worrying, the new law will be much more efficient.

    According to what I understood, i believe the new law will be voted very soon and within a month or maybe 2 things will continue exactly as it was, but this time in better conditions.

    What will be the effect of this halt for current buyers?
    Well, obviously, a foreigner purchasing a property in Turkey during this halt, will have to wait a little longer to get its title deed (which normally took something around 4 months).
     
  6. TH4S

    TH4S New Member

  7. TH4S

    TH4S New Member

    İ do beg to differ,
    Foreigners 'cannot' buy/purchashe any property in Turkiye until the new laws have been agreed,

     
  8. New Home in Turkey

    New Home in Turkey New Member

    TH4S, I strongly believe that this siuation will not last for the eternity. Within a very short period of time, the new law will be voted at the parliament, and business will continue upon better structured features.
     
  9. TH4S

    TH4S New Member

    New Home in Turkey,

    I posted this Yesterday, 04:13 PM its under the news article,;)

    My message to future buyers,my opinion,there will be NEW buying laws announced very very soon,The ban on foreign people buying is just temporary,Turkiye as had something similar things happen in the past and sorted it out.

    My message to some other estate agents,Calm down and take your mogadon,


    http://www.totallyproperty.com/turk...es-swift-end-chaos-foreign-property-sale.html
     
  10. Yogi

    Yogi New Member

    I am just about to complete on an apartment in Akbuk.

    I have dealt direct with the Developer and not through an agent. I raised this question with him and he tells me it affects foreign companies only? I am not so sure and (from the article above) believe it affects ALL foreign purchase.

    I presume then that this actually means that foreign buyers can not get their Tapus, which from what I have heard takes a couple of Months anyway? By which time a new law will have been introduced? (maybe)

    I am going out to Turkey in May (staying in Altinkum). The purpose of the visit as well as a family holiday was to arrange furniture for our new apartment, I am not really sure what will happen now.

    Any thoughts/advise would be welcome.
     
    Last edited: Apr 30, 2008
  11. TH4S

    TH4S New Member

    Yogi,
    There are a lot of people guessing when the new laws will be made,

    I have heard 'very soon' 'this month'' ''next month' .I have also heard july mentioned,

    Send your Developer the newspaper link ,

    Perhaps (maybe) they did not read it, ;)
     
  12. New Home in Turkey

    New Home in Turkey New Member

    Yogi,

    The halt concerns all foreigners.

    I think your developer was mentionning a previous halt for foreign companies, which actually, forbid them to purchase land, while, in the meantime didnt affected the single foreign purchasers.

    This halt we are discussing in this topic is concerning all foreigners wishing to purchase a property in Turkey.

    Until the new law, which we all hope will be voted very soon, no title deed will be given to foreigners who have purchased a property.

    What does that mean?

    It took (before the halt) approximately 4-6 months for a foreigner to get its title deed. The reason for that is simply because all requests are sent to the military for clearance. However, the real reason for this process to take so long time is that all requests are sent to only one military base located in Izmir, dealing with thousands of cases.

    What is going to happen than?

    Well, the title deed is the official paper saying that you are the owner of your property. Obviously, it will take some more time now to get it. I am %100 sure that within a very short period of time the new law will be voted. However, this will not help very much to speed up the checking process.
     
  13. TH4S

    TH4S New Member

    New Home in Turkey Do You Know? How long is a short period of time .!

     
  14. New Home in Turkey

    New Home in Turkey New Member

    Deat TH4S,

    Unfortunately I dont have the power to oversee the future. However, all i can count on is what i hear from my contacts in Ankara. I wish i had the power to say that the new law will be passed within x time, but well, obviously i cant.

    What i can say for sure is:
    - The new law will be more effective
    - It will be voted

    Other than that, well its beyond my power.

    However, what i try to (very modestly) do here, is to avoid people who bought, or plan to buy, to panic.
     
  15. TH4S

    TH4S New Member

    One thing is for sure..once the new Turkiye Property sales laws are passed and actually printed in the Turkish newspapers .. Then and then only will they be published here, and in the Turkey Herald magazine.
    Turkey herald turkish forum property in Turkey
     
  16. New Home in Turkey

    New Home in Turkey New Member

    Well, the new law has been accepted at the commission, which basically means that it has been accepted. The law will be passed to the Parliament, and voted, i hope within the next week.

    Yabancýlar mülk edinebilecek - Hürriyet

    Sorry, its in Turkish...
     
  17. TH4S

    TH4S New Member

    We all hope within the next week.it has NOT been accepted yet .!

    It is for the benifit of our members that the new law 'when it announced' should be posted in English...Kolay Gelsin. ;)
     
  18. southall

    southall New Member

    How about creating a Turkish Limited company and having the company buy the property. Does that eliminate the need to wait for this ruling? If a foreigner owns the limited company do they still need military clearance? What are the disadvantages of buying through a company rather than as an individual?
     
  19. paul-steve

    paul-steve New Member

    Does that eliminate the need to wait for this ruling?

    It's quite clear ALL sales are frozen


    Hope it helps
     
  20. southall

    southall New Member

    But sales to Turkish people are not frozen are they?
     
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