State agency: Protests do not affect real estate market activity in Turkey
Azerbaijan, Baku, June 10 / Trend R. Hafizoglu /
The recent protests in Turkey did not affect the country's real estate market, the Turkish State Agency for Land Cadastre and Purchase and Sales told Trend today.
According to the state body, an increase in real estate transactions made by foreigners in Istanbul was observed during the first five months of the year.
Besides Istanbul, foreigners are buying real estate in provincial regions of the country with well-developed tourism sectors, the state agency said.
According to the state body, the biggest increase in real-estate transactions by foreigners in Turkey is being observed in Antalya.
Advisor to the Turkish Minister of the Economy Alparslan Uymaz told Trend earlier that according to new laws, a foreign buyer can buy up to 60 hectares of land.
A foreign citizen can purchase a land plot in Turkey and on Turkish military facilities with the permission of the General Staff of the country.
According to the law, no more than 10 percent of the total area of land plots in each Turkish province can be sold to foreign citizens.