Real estate purchase contracts by foreigners double in Turkey
Azerbaijan, Baku, Dec.20 / Trend, A. Taghiyeva /
Foreigners have purchased about 6,000 units of real estate in Turkey since a law changing conditions under which foreigners may buy property in Turkey was adopted in August 2012, the Turkish State Authority on Land Cadastre and Purchase and Sale told Trend on Thursday.
During the period from August to October, foreigners purchased 2,578 units of real estate in Turkey.
The Turkish State Authority said that Azerbaijani citizens purchased about 50 units of real estate in Turkey. Azerbaijani citizens mostly buy real estate in Istanbul, Izmir and Mugla.
During this period, most of the real estate was purchased by citizens of Germany, Russia, the UK and the Arab countries of the Persian Gulf.
According to the new law, a foreign buyer may purchase up to 60 hectares of land, adviser to Turkish Economic Minister Alparslan Uymaz told Trend earlier.
Uymaz said that this is now possible with the permission of the country's general staff in accordance with another amendment.
According to law, more than 10% of the total area of land plots in each province cannot be sold to foreign citizens.
Previously, only citizens of those countries in which Turkish citizens could buy a land plot could become property owners in Turkey.