tally71

The value of property in Turkey increased again in May, compared to the previous month.

The 1.1 % rise means that the cost of buying a property in Turkey over the past year has risen by 10%. Pretty good when compared elsewhere.

A good reason to buy in Turkey.

Also a new law has recently been passed making it easier for foreign investors to buy property in Turkey.

ozsubasi

The new law can only be a good thing as far as the property market is concerned long term. Short term there is the irritation that the required military checks and the processing of tapu's has been halted, while these laws are implemented.

tally71

Yes Ozsubasi,

The law was passed in May, and still no foreigners / yabanci can get their tapus. Am sure they are trying to sort this out quickly.

ozsubasi

Yes, when I came here 4 years ago the wailt for clearance was around 6 months, but until the current stop was in place people were getting their tapus within a month. I hope that the inevitable backlog doesn't mean the return to long delays.
Hopefully at some point the whole military check system will be abolished.
If so I think it would have to be replaced by a new property tax for the government to recoup the money, but I think most people would not object to that if it meant they could get their tapus straight away just as Turkish people do.

tally71

I am sure that they are wanting to stream line the buying process so that people can get their deeds in one day. Would be ideal for everyone.

ozsubasi

Foreign buyers are still unable to complete a sale, and now that the politicians have gone on their summer holidays without this law being ratified, it could be some time before this is resolved.