The long awaited change of the Tapu Law is now in force. The law was signed by the President of Turkey and the sale to foreigners is now going on again.
The most important changes we have summarized for you:
The reciprocity principle has been cancelled.
The list of countries that may acquire property in Turkey has been approved by the Cabinet. A total of 181 countries have therefore a right to purchase the property in Turkey. Countries that are not on this list cannot purchase a property in Turkey.
Foreigners are allowed to purchase max 10% of the total area of a province.
Up to 30 acres are available for purchase. Every single foreign person has the permission to buy max 30 acres.
Private companies, companies that were founded abroad can purchase property in Turkey after certain conditions prescribed by the Cabinet.