Let's Talk Turkey - Turkish News, Property & Lifestyle : News

Let's Talk Turkey - Turkish News, Property & Lifestyle : News www.lets-talk-turkey.eu/ Let's Talk Turkey focuses on Turkish and Cypriot news, leisure, travel, holidays, property and property rental. We offer members the opportunity to post information on their businesses and property in Turkey and Northern Cyprus. en-gb Site Disclaimer: The opinions of members of and visitors to this website are entirely their own and do not reflect the opinions of Let's Talk Turkey, it's owners, servants, moderators or administrators. By joining this website and by subsequently posting information, news, views or comments on Let's Talk Turkey you agree to take full responsibility for your words, comments and actions. Let's Talk Turkey, its owners or its administrators bare no responsibility for the content of posted material other than to ensure that it is non-offensive to members and visitors. admin@nospam.com (admin) admin@nospam.com (admin) Sun, 20 May 2012 07:07:45 +0200 Sun, 20 May 2012 07:07:45 +0200 http://backend.userland.com/rss e107 (http://e107.org) hourly 1 60 Let's Talk Turkey - Turkish News, Property & Lifestyle : News http://www.lets-talk-turkey.eu/e107_images/button.png www.lets-talk-turkey.eu/ 88 31 Let's Talk Turkey focuses on Turkish and Cypriot news, leisure, travel, holidays, property and property rental. We offer members the opportunity to post information on their businesses and property in Turkey and Northern Cyprus. Martin Golf Course Design Partnership Eyes up Turkey for Expansion http://www.lets-talk-turkey.eu/news.php?item.155.1
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]]> Misc admin Thu, 29 May 2008 14:50:06 +0200 http://www.lets-talk-turkey.eu/news.php?item.155.1 Amendment to Article 35 - Land Registry Law - Approved by Justice Commission http://www.lets-talk-turkey.eu/news.php?item.154.6
New restrictions will be placed on property sales to foreigners in Turkey following the Constitutional Court's latest verdict canceling the government's previous legal arrangement.

On a district basis, the land appropriated for sale to foreigners must not exceed 10 percent of the overall land included in the development plan for a district. The parliamentary Justice Commission has approved a bill that includes an amendment to article 35 of Turkey's existing Land Registry Law.

The Republican People's Party (CHP) criticized the bill during discussions in Parliament. Zeki Adl, director of the Turkish Land Registry Directorate, said that the amount of land allowed to be sold to foreigners has been decreased by one third since the government took the Constitutional Court's latest verdict into account. In compliance with the new legal amendment accepted in Parliament, foreign nationals will be allowed to purchase immovable property of a maximum of 10 percent of a district's appropriate land. For instance, while the total amount of land to be sold to foreign nationals in Antalya was 10,363 hectares according to the government's previous amendment, it decreased to 3,607 hectares with the new amendment accepted by Parliament. The amount decreased to 2,022 hectares in Mugla district.
Meanwhile, Osman Ertu?rul from the Nationalist Movement Party (MHP), in his statement regarding the disadvantages of property sales to foreigners, alluded to the establishment of the state of Israel through land purchases from Palestinians. Halil Ünlütepe from the CHP and Faruk Özak, the public works minister, repeated the fierce discussion they had had in Afyon in 2005. "You keep doing this. You did the same three years ago in Afyon, too," said Özak, who criticized Ünlütepe's remarks accusing the government of acting heedlessly. However, Özak and Ünlütepe were reconciled after hugging each other at the end of the parliamentary meeting.

What will the new bill bring?

The cabinet will have the authority to restrict foreign purchases in water, energy, mining, agricultural lands and areas protected due to their historic, religious and cultural characteristics, according to the new bill. In addition, the cabinet will be responsible for restricting foreign purchases of immovable property on sites protected for their special flora
and fauna, and lands with strategic importance because of national security interests.

Considering a district's status in terms of its infrastructure, economy, energy capacity, environmental condition, culture, agriculture and security condition, the cabinet is to have the authority to determine a different percentage for property sales to foreigners, under the condition of it being no more than the set 10-percent level.

The governor's office will report any changes in area size of a district's building scheme to the parliamentary Justice Commission.]]> Property News Dave Wed, 14 May 2008 23:30:43 +0200 http://www.lets-talk-turkey.eu/news.php?item.154.6 Before Buying Off Plan http://www.lets-talk-turkey.eu/news.php?item.153.3
If you type ‘buying property in Turkey’ into most search engines on the internet you will discover a collection of sites offering varying degrees of advice on a straightforward process. That said, even the most experienced property investor may be confused by so many developers, agents and solicitors describing the purchase process in their own way. We suggest you start your search by looking at sites offering impartial advice and guidance on buying property in Turkey, for example:
www.turkisheconomy.org.uk/buyingproperty
www.britishembassy.gov.uk Buying off plan is extremely popular in property markets overseas and Turkey is no different. As the purchaser, you will be buying a property that has yet to be built based on the sales and marketing material provided by a developer or agent. It’s best not to base all your decisions on a developer’s website and once again, we recommend you do your own research. Probe for information on payment structures, service charges and management fees. You should feel comfortable that your developer (or agent) has answered all your questions in a clear and open manner.

BUYING OFF PLAN IN TURKEY

In a bid to align its real estate laws with those of other EU member states, Turkey has relaxed its rules regarding foreign ownership of property. The ‘reciprocity principle’ (introduced in 2003 and enacted in January 2006) means you can buy property in Turkey provided there is ‘reciprocity’ between Turkey and your country of origin. Simply put, if a Turkish citizen is allowed to purchase property in your home country then the same rights apply to you buying property in Turkey. A list of countries where full reciprocity exists is available at:
www.turkisheconomy.org.uk/buyingproperty

In theory you do not need to instruct a solicitor when buying property in Turkey. In practice, we recommend you do. There are a number of simple steps to follow when buying in Turkey and some may seem strange if you don’t speak Turkish or understand the Turkish legal system. In order to protect your investment, an authorised English speaking Turkish solicitor with proven experience in property law, can provide independent legal advice on all matters relating to your purchase. Buying a property, whether at home or abroad, is a significant undertaking and one of the smartest moves you can make is to pay for proper legal representation. Ask yourself this - if you won’t consider buying a property at home without a solicitor, why proceed overseas without one? In a bid to meet EU regulations the Turkish government has taken huge steps to improve and regulate the building industry. You should expect your developer to provide frequent updates throughout the construction period of your property. Any photographic evidence they supply must show that construction is being successfully completed to schedule and in accordance with all Local Authority and national Building Standards.

For more information visit http://www.braemoregemini.com
]]> Off-Plan Property Development News Dave Sun, 11 May 2008 19:17:51 +0200 http://www.lets-talk-turkey.eu/news.php?item.153.3 EU Supports AKP Party...to a point! http://www.lets-talk-turkey.eu/news.php?item.152.8
One of these reasons is that Europe perceives the AKP as a progressive party that's making efforts to implement the Copenhagen Criteria. They are aware of the religious side of the AKP as well as its approach to religion, but they don't think there's any concrete evidence of the AKP's intention to transform Turkey into a religious state. They qualify the AKP as a Muslim party, but one that's also carrying Turkey to Europe. Europe doesn't accept the theory that the AKP has a secret agenda, regardless of whether we accept that view or not. According to the European notion of democracy, there's nothing reasonable about shutting down a party � which doesn't promote violence, which has been elected with a 47 percent majority and has also been ruling the country for five years � on the sole evidence of its political statements.

The second reason is the EU's conviction that Turkey has always been ruled by the upper classes, and that no political party rejected by them will ever get the chance to acquire or remain in power. That's why Europe views the AKP's closure case as a fight between those who are for and against democracy, rather than an attempt to protect the secular system.
However, there's another interesting development. EU countries are beginning to emphasize secularism more and more. In other words, they also question some of the AKP's applications. They are lending a more interested ear to the secular sectors in Turkey. More and more questions are being asked.

This is a relatively new development, but it's spreading fast. That's why I wish to speculate as to the EU's reactions if the court were to decide for the AKP's closure.

The most probable scenario says that the European Parliament will back the AKP and will decide to freeze its relations with Turkey at once if that party is closed. Solidarity is a part of this parliament's nature. You'll see that almost every session of the European Parliament will involve a debate on Turkey, and the parliament will ask the EU Council, in other words the 27 countries, to freeze their relations with Turkey.

How will the European Commission react?:

If we go by what Commission President Barroso and Commissioner for Enlargement Rehn said during their last visit, we can easily conclude that the commission will react against the closure of the AKP. However, it's not likely that the commission will recommend to freeze the relations, for the real function of the commission is to carry EU-Turkey relations to a positive end, in other words, make Turkey a full EU member. For that reason, the commission will list the pros and cons of freezing the relations and will let the council make the final decision. Let's now get to what this final decision could be. Although it would be very difficult to predict the council's decision at this point, we could start by discussing the clues that we already have.The council's decision will be very important in the sense that it will determine the fate of Turkey's European adventure. If they decide to suspend membership negotiations, it will be extremely difficult to resume them, even if our relations are restored at a later date. This decision to suspend negotiations requires a two-thirds majority (18 countries), while to resume them will require a unanimous vote. In such a situation, member countries that have various expectations from Turkey will present us with a series of bills. They'll ask us to compromise in a great number of topics that will range from the Cyprus issue to the alleged Armenian "genocide." Ankara cannot be expected to fall in with those expectations. Therefore, the suspension of these negotiations will mean that Turkey will never be able to resume its seat at the negotiation table. This will also split up the council.

The suspension of Turkey's accession talks will remove the EU's right to impose anything on Turkey. Turkey will take no notice of anything that the EU Commission or the EU Council or the EU Parliament might have to say at that stage.Turkey will move away from Europe. This possibility might suit the purposes of some circles in Turkey. You can be sure, however, that the political and economic damage that the country is bound to suffer sooner or later will be extremely difficult to repair. Many countries in Europe and especially the Greece-Greek Cyprus duo will not want this to happen. You'll see that even countries like France, Germany and Austria that are the most fervent opposers of Turkey's membership will abstain from voting. At that point, Washington will be another capital to affect the decision. The White House attitude will influence the attitudes of an important number of EU countries. Taking into consideration all these factors, it would be wrong to conclude that Europe will suspend its relations with us as soon as the Constitutional Court decides to close down the AKP. The factors that will play a determining role will range from the legal grounds cited by the court to the international conjuncture at that time and the attitudes of the member countries. In the end, it's hard to say anything now. The only certainty is that we fail to really understand Europe in the same way that it fails to really understand us. …………

M.A.Birand, The Turkish Daily News, Translation by Nuran Nanç. (nuraninanc@gmail.com)]]> Economic News Dave Fri, 09 May 2008 22:42:01 +0200 http://www.lets-talk-turkey.eu/news.php?item.152.8 AKP Party Ban - A Looming Crises for Turkey? http://www.lets-talk-turkey.eu/news.php?item.151.8
The struggle for control of Turkey's destiny intensified this week as the country's top court agreed to hear a case that could ban the ruling AKP party. The German press on Tuesday views the move as part of the secular elite's bid to hold onto power in Turkey.
The decision of Turkey's top court to agree to hear a case aimed at banning the governing party threatens to plunge the country into months of legal wrangling and political uncertainty. The 11-member Constitutional Court voted unanimously on Monday (http://www.spiegel.de/international/world/0,1518,544489,00.html to consider a ban of the ruling Justice and Development Party (AKP). The charge is that the party of Prime Minister Recep Tayyip Erdogan, which has roots in political Islam, is trying to scrap the secular principles upon which the state was founded.

The case is part of the ongoing battle between members of the old elite, who see themselves as defenders of the secular order, and the conservative AKP, which has overseen strong economic growth and forged ahead with democratic reforms that would ease Turkey's bid to join the European Union.

On Tuesday the German press condemns the move by the secular establishment to ban the governing party and some newspapers accuse the elite of ulterior motives.
The left-leaning *Berliner Zeitung* writes:

"A power struggle is taking place in Turkey. It is not a struggle between Islamists and religious forces on the one side and secular forces on the other. It is a struggle between the representatives of a political, social and economic opening and a caste of bureaucrats who not only oppose the headscarf but democratization and privatization. … It is also a struggle between those who look to the political process -- to elections and democracy -- for their legitimacy, and those who are prepared to force through their image of the Turkish state and nation against minorities."

"The US and EU have long understood this and have made clear their opposition to a ban of the ruling AKP. But the AKP made a serious mistake in relaxing the headscarf ban without pushing through additional steps toward
broad democratization since its election last July. However, now is not the time to judge the AKP. A ban on the party would mean the end of politics for the coming years. For who would venture to introduce reforms in Turkey if
the very party that finds support among pious Muslims and liberals, Kurds and minorities, democrats and the urban poor were banned?"

The conservative *Die Welt* writes:

"The Turkish Kemalists won't give up. Their latest battle against what they describe as 'creeping Islamization' by the governing AKP party is being carried out before what has been until now a reliable bastion of secularism
in Turkey -- the Constitutional Court. That has worked twice before: Almost exactly 10 years ago the highest court banned the Welfare Party of former Prime Minister Necmettin Erbakan and a few years later it also banned its successor, the Virtue Party."

"But what succeeded twice is not necessarily capable of being repeated. The acceptance by the Constitutional Court of the state prosecutor's case to ban the AKP has provoked a race for authority. If the AKP succeeds in reforming the judiciary to its advantage before the ruling then it has nothing to fear. If a party ban catches up with it, then it can rename and refound itself. It will do little to change the path Turkey has taken since the emergence of Islamist-leaning parties in the previously encrusted and corrupt political landscape."

"The AKP won 47 percent of the votes in the last election. The people want to follow it on the path towards more religious tolerance -- without turning away from the West. The Kemalists should respect this and adjust to the new
times, if they don't want to disappear into insignificance."

The center-left *Süddeutsche Zeitung* writes:

"In Turkey the judiciary is considering banning the government. If the ban of the AKP becomes a reality it will be nothing less than a putsch. Only this time it will be the judges who do the work of the military."

"The charge is the attempted overturn of the republic's secular order. That is ridiculous and merely a pretext.... The AKP's true crime is something different: It is too popular and has been too successful .... The old elite
sees itself being squeezed; this caste of guardians of the republic, which has considered the state its possession since its foundation and considers the people as merely an ignorant mass to be led. … The members of this class
call themselves "secular" … but internally they are authoritarian and deeply illiberal, who mistrust the minorities in their own country as much as they distrust foreigners. And particularly the EU, because it is constantly
demanding more rights for the Kurds and Christians."

"A conservative AKP that occupies the political center in Turkey and pushes through liberal reforms is a far greater danger to this caste than if the AKP were really secretly Islamist. The AKP won an absolute majority of
parliamentary seats in the last election -- a truly Islamist party would never find popular support in Turkey."

"Regardless of what happens, the case to ban the AKP is an attack on the opening up of the country, on democracy and civil rights, and on closer ties to the EU."

*-- Extract from The Turkish Daily News, Siobhán Dowling, 11:45 a.m. CET*]]> Economic News admin Wed, 07 May 2008 15:37:31 +0200 http://www.lets-talk-turkey.eu/news.php?item.151.8 Second Golf Course for Bodrum takes shape http://www.lets-talk-turkey.eu/news.php?item.150.10 The course architects at Golfplan-Fream, Dale & Ramsey, have broken ground on 18 new holes at the site. Golfplan has designed more than 160 courses in 26 different countries, but this project - slated for a spring 2009 opening - will be the firm's first in the emerging golf destination of Turkey.

Golfplan's 18-hole design at the as yet unnamed resort, with its large hotel component and 4,000 planned villas, will cater to this established crowd while also serving Bodrum's growing numbers of German and British tourists.

"This community has long been the quiet, moneyed alternative to Turkey's more commercial tourist region down the Ionian coast, and when you see the climate and terrain here in Bodrum, it's easy to see why they kept it quiet," says Kevin Ramsey, a partner with Santa Rosa, Calif.-based Golfplan-Fream, Dale & Ramsey.

"Both are perfectly suited to golf. Our site in Bodrum combines a sort of high-desert vegetation — rocky, sandy soils with olive trees, scrub oak and sage; very dry — with tropical temperatures in summer and serious elevation change."

Ramsey explained that half the routing extends down to the property's salt-water estuary, home to the palms and flamingos. Several corners of the site — including the 18th tee complex — are festooned with ruins from the ancient Greek and Roman cultures that thrived here for centuries Before the Common Era.

The other nine winds up into several valleys flanked by steep, striking rock outcroppings — site of the hotel and most of the real estate lots, which look down on the course. The hotel (developers are considering Four Seasons and Ritz Carlton) has been designed to resemble a Roman ruin that stair-steps down these rock plateaus. On the final, lowest step sits the clubhouse and 1st tee, Ramsey noted.

"We've been very careful with the routing and construction of the golf course," the course architect continues. "This entire area has tremendous history and areas adjacent to the golf course have been designated an archaeological preserve, so our intent is to keep things right where they are and let people experience the history. It's quite something to be standing beside a column or bit of masonry that's been in place for more than 2,500 years.

"Water is another big issue here, as everywhere these days. The regulations aren't as strict as they are in California, but they are one reason we've designed a paspalum golf course," says Ramsey, noting that this salt-tolerant grass allows course irrigation options that include both effluent and groundwater too brackish for normal turfgrasses. "We've specified Tifeagle greens [bermudagrass]. We also plan to revegetate some portions of the property with oaks and palms from other parts of the property."

This is the first golf resort project for developer Agaoglu, a veteran, Istanbul-based builder of high-rise apartments and office buildings in the city; so far they have done everything right, Ramsey says.

The owners are doing the general earthworks, while Golf International out of Istanbul has been hired to construct the course. Golfplan brought in one of its elite shapers, Jimmy Stevens, to do all the feature work. Stevens handled Golfplan designs at Eagle Ridge in Gilroy, Calif., and Guam International, among others.

The course at Bodrum will only be the tenth course in Turkey so golf is still in its infancy but the increased number of tourists means it is seen as an emerging golf destination.

]]> Turkey News Dave Tue, 22 Apr 2008 01:08:02 +0200 http://www.lets-talk-turkey.eu/news.php?item.150.10 Government promises swift end to chaos in foreign property sale http://www.lets-talk-turkey.eu/news.php?item.149.3
Those in the real estate sector have stated that the suspension of property sales must be ended as soon as possible. The government, however, said the Cabinet had already received a new regulation on property sales for their signature and promised a swift end to the chaos.

All sales to foreigners across the country have been frozen under the directive issued by the Land Registry General Directorate of the Public Works Ministry since the Constitutional Court ruling went into effect yesterday. Foreign companies established in Turkey and foreigners who hold Turkish passports will be kept outside the scope of the directive, the ministry announced. The Constitutional Court canceled a single article of the law that gave authority to the Cabinet to remove limits on property sales to foreigners -- set at 2.5 hectares -- as long as the total area sold to foreigners does not exceed 30 hectares and is not more than 0.5 percent of the area of a province. Under the directive, sales to foreign nationals and foreign companies will be frozen unless a second directive stating otherwise is issued.

Although the sale of property to foreign companies operating in Turkey under Turkish law are outside the scope of the suspension of sales, the Constitutional Court also canceled a ruling regulating sales to these companies. However, it said it would allow six months before the cancellation went into effect. Officials at the Land Registry say the court has not yet released its explanation of the decision, but they emphasize that within the next six months, a new law that regulates this type of sale should be passed.

"If not, the sales of property to these companies would also have to be frozen," said an official.

However, businesses and professionals say the mistake must be corrected without delay. Foreign investors have already been greatly unnerved by the top court's decision, according to Mustafa Alper, secretary-general of the International Investors Association (YASED), who underlined that the cancellation of the law would cause great problems for foreign investors. "The economy's wheels won't roll as long as this problem is not solved," Alper said.

Alper's tone was alarming. "There is a serious question mark in the minds of foreigners who were planning to invest in Turkey. This has to be solved, or else we'll have to face dire consequences."

As an example, he said Canada's Magna International, the world's fourth largest automobile parts supplier, had plans to invest in Turkey. "According to this decision, they can't even buy a single apartment in Turkey, let alone buying land for building a plant," he said.

Alper noted that some companies had phoned YASED and expressed their apprehension over the law.

"The government should move quickly and pass a new law, as fast as possible, that would fall outside the scope of the decision made by the court."

The cancellation is not only a problem for foreign investors, but also for individuals buying property, according to Nevzat Tilkici, head of the Fethiye Realtors' Federation. "This will absolutely cause problems," said Tilkici, in a phone interview with Today's Zaman. He said the ruling would also have an impact on homes sold to foreign nationals in the regions of Fethiye, Didim and other Mediterranean resort towns popular with European home buyers. "In just the three months between Jan. 16 and today [April 16], the day of the court's decision and the day it went into effect, hundreds of homes have been sold," Tilkici stated. He said he expects most of the homes bought through real estate agencies in this period will not be paid for, estimating the losses for Turkey just from these homes at 3 million pounds. Given the gravity of the figures, he said, he believes the relevant authorities and officials of the Republic of Turkey will solve the problem as quickly as possible.

You can't explain this to an American!

But isn't there a way to get around the regulation? "No," replied Tilkici. He underlined that foreign home buyers do not want to deal with confusing and rigid rules, let alone putting effort into circumventing them. "Even with the rule that home sales to foreigners should be inspected by the local military command to decide whether the location of the house is strategically important, officials at the land registry say the inspections slow things down by months in some cases. If these buyers were Turkish, you could explain [this delay]. But you can't explain this to an American or a British person."

Since 2002, when the Justice and Development Party (AK Party) came to power, the number of property sales to foreign nationals have exceeded the figures from sales between 1923, when the republic was established, and 2002, according to data presented to Parliament by Nafiz Özak, the minister of public works and settlement, earlier this month in response to a query by a legislator.

In the past five years, 40,026 pieces of real property -- both buildings and land -- were sold to foreign nationals compared to 20,843 in all of the republican era until 2002. Some have criticized the skyrocketing sales, accusing the AK Party of "selling the motherland" to foreigners. Does this mean that Turkey, then, is not a good place for investing as it is filled with individuals hostile to a foreign presence in their economy and with a Constitutional Court possessing the same mentality as these people? This is absolutely not the case, says Erdoğan Bayraktar, president of the Housing Development Administration of Turkey (TOKİ), a state agency that undertakes affordable housing projects in most cities across the country.

"There is no mentality that prevents the sale of property to foreigners or that has a twisted view of property sales to foreigners in Turkey," said Bayraktar yesterday in a meeting held at TOKİ to introduce a new report titled "Emerging Trends in Real Estate Europe 2008."

He said the top court's decision regarding the law on property sale to foreign nationals and companies had created a misunderstanding, adding that the ruling in fact does not run against the ideal of economic integration with the rest of the world.

Bayraktar said the decision was issued only to stress the impropriety of allowing the Cabinet to decide whether to remove land sale limits on foreigners, underlining that the court had allowed six months to make changes to the sale of property to foreign companies. "A period has been given to the political power, the government, for it to correct this mistake."

He said the Public Works Ministry's directive was only temporary and that it was issued due to a technical necessity.

"This mistake will be corrected in the shortest time. There is no such thing as property sales to foreigners being prevented in Turkey."

Bayraktar said it would be impossible to even assume that in a Turkey trying to embrace Europe and the contemporary world such a thing could ever happen.

Government promises urgent action

A statement from Finance Minister Kemal Unakıtan eased the air of panic slightly in the sector. He said a new regulation that would remedy the situation had already been submitted to the Cabinet. "The regulation on property sales to foreigners has been opened for signature in the Cabinet. I signed it today. Only a few ministers haven't signed it yet, and we will refer it to Parliament in the shortest possible time," he told reporters.

Foreign investment plummets

Meanwhile, the Treasury yesterday announced more disheartening data on foreign direct investment in Turkey. According to these figures, the amount of direct foreign investment made in Turkey for January and February combined dropped to $1.592 billion, a sharp fall of 80.4 percent in comparison to the same period last year.

The amount of net direct foreign investment made in Turkey was $976 million in January, dropping to $616 million in February, according to the Treasury's international direct investment figures. The net total for January and February combined last year for foreign direct investment was $8.102 billion.]]> Off-Plan Property Development News admin Fri, 18 Apr 2008 12:21:33 +0200 http://www.lets-talk-turkey.eu/news.php?item.149.3 Facts and Figures http://www.lets-talk-turkey.eu/news.php?item.148.6
According to data from the Land Registry General Directorate, some 73,000 foreigners own a total of 38,419,151 square meters of real estate in Turkey, with Mugla being the favorite spot for British owners. British citizens own some 2.6 million of the 4.4 million square meters of property in Mugla. Germans ranked second.

In terms of the number of foreigners owning real estate, Antalya again tops the list with 26,031 people, followed by Mugla (12,865), Istanbul (8,830), Aydin (7,415), Bursa (5,241) and Izmir (4,145). Land owned by German citizens in Antalya totals 1.25 million square meters. Some 6,324 Germans own 4,890 parcels of real estate in the city. British citizens own 777,786 square meters of land in Antalya, followed by Dutch citizens with 351,953 square meters and Danish citizens with 339,874 square meters. Simon Cuss (Mandalya Properties

Submitted by Simon in Turkey
]]>
According to data from the Land Registry General Directorate, some 73,000 foreigners own a total of 38,419,151 square meters of real estate in Turkey, with Mugla being the favorite spot for British owners. British citizens own some 2.6 million of the 4.4 million square meters of property in Mugla. Germans ranked second.

In terms of the number of foreigners owning real estate, Antalya again tops the list with 26,031 people, followed by Mugla (12,865), Istanbul (8,830), Aydin (7,415), Bursa (5,241) and Izmir (4,145). Land owned by German citizens in Antalya totals 1.25 million square meters. Some 6,324 Germans own 4,890 parcels of real estate in the city. British citizens own 777,786 square meters of land in Antalya, followed by Dutch citizens with 351,953 square meters and Danish citizens with 339,874 square meters. Simon Cuss (Mandalya Properties

Submitted by Simon in Turkey
]]> Property News http://www.lets-talk-turkey.eu/comment.php?comment.news.148 admin Thu, 17 Apr 2008 16:55:31 +0200 http://www.lets-talk-turkey.eu/news.php?item.148.6 Property sale to foreigners takes a hit http://www.lets-talk-turkey.eu/news.php?item.147.3 Property sales to foreigners have come to a halt, due to inaction in amending relevant laws after a damning Constitutional Court ruling last year. The government had three months to alter legislation, but could not act in time. Experts say not only real estate but construction and even tourism will be hit, noting that foreign currency inflow may decrease

ANTALYA - TDN with wire dispatches.

Following a ruling by the Constitutional Court to ban the sale of immovable property to foreigners residing in Turkey, property sales to foreigners came to a halt as of yesterday since the government has not made the necessary amendments to the relevant law.

The decision will affect sales in the southern regions in particular, real estate agents told the Turkish Daily News, noting that Turkey's image abroad is tarnished.
“We prepared the necessary regulations last month and sent them to the Prime Ministry; however, it was late,” said Zeki Adlı, deputy director of the Turkish Land Registry Directorate. “Thus, property sales to foreigners will stop across the country until new regulations are enforced.” Finance Minister Kemal Unakıtan told reporters that a new regulation to lift the ban is underway. Unakıtan said he has already signed it together with other ministers.

Missed deadline: The decree of annulment regarding two regulations of the Deeds Law, which regulates property sales to foreigners, was first published in the Official Gazette on Jan. 16.   The Constitutional Court rejected revisions to Turkey's Land Registry Law last year after a legal appeal was brought forward by the main opposition Republican People's Party (CHP).

“The act increases the legal limit – which is 2.5 hectares – 12-fold, thus the law is immoderate enough to liquidate the effectiveness of the limitation,” according to the legal basis of the law.   The government missed a three-month deadline to alter the legislation after the court's ruling was published. The Turkish Land Registry Directorate prepared a new bill and sent it to the government, but the bill could not be enacted before the deadline.

“The bill entitled the cabinet to be the authority for property sales between 2.5 and 30 hectares. Now this authority has been annulled. We sent the new regulation to the Prime Ministry on March 3," said Adlı.   Unfortunately, it could not be enacted and the issue was out of their control, Adlı said, "A political enactment will reach a final decision about the property limits set to be sold to the foreigners in every city.”

January data indicates that a total of 60,351 immovable properties on an area of 37,125,330 square meters were sold to 70,336 foreign nationals in Turkey. British citizens topped the list, owning 4,867,676 square meters of land, daily Milliyet reported yesterday.   “Real estate agents operating in holiday resorts would be greatly harmed,” Ali Arslan, a real estate consultant at Deniz 24 Emlak in Antalya, told the TDN. “The tourism sector will also be affected by the act the most since it will lead to a decrease in the number of tourists, especially when we consider that the tourism season is about to start.” Allowing foreigners to purchase or sell property not only boosts the market, but it also ensures the influx of foreign currency, according to Mehmet Deniz, founding partner of Deniz 24 Emlak.

Foreign companies founded in Turkey and people with dual citizenship will be exempt from the act. The new regulations will assess the building plan, instead of the city area, on the basis of which a certain limit will be determined, the Anatolia News Agency said yesterday.

Threat of bankruptcy:   “It is now almost impossible for those foreigners with 10-15 percent of their debts remaining to get their [title] deeds,” said Ahmet Şengel, chairman of Şengel İnşaat, which conducts construction projects in Kuşadası, on the Turkish Riviera. “They will ask us to return their money now that we cannot give them their deeds. We cannot sell the remaining houses to local customers since the real estate sector has been going through a stagnation period for some time.” The companies, which construct and sell properties just to foreigners, will go bankrupt if the ambiguity continues, Şengel added. “We have almost killed our real estate sector.”

The new act might harm Turkey's reputation abroad, said Berker Yörükoğlu, a representative of Talip Yörükoğlu Emlak in Antalya. “The revival of the real estate sector after this act will take one to two years, during which the land, house and construction prices will drop,” he added.

“There will be also a decrease in the influx of foreign currency. This will damage the economy, which has already been going through a tough time.”

On the other hand, Berrin Gökalp, owner of Milenyum Emlak in Antalya, said most of the property sales to foreigners took place abroad. Foreigners buy their property before they come to Turkey, since sales to foreigners take three to four months here, Gökalp said.   “Thus, I do not think that the new act will affect real estate agents in Turkey much,” she said.

Carol Nelson, owner of Carol Nelson Real Estate Agency in Istanbul, said her business will not be affected simply because not many foreigners are buying property in Istanbul. "This will affect the south [of Turkey] more," she said. "All the expatriates are coming here to work for a few years, so they are renting. Those who are buying have been here for years." Johan Vos, partner of Tay-Partners Emlak in Antalya, said he wasn't surprised. "Every year something seems to disturb our business… every year there's something,” said Vos. “People are afraid they might not get the house deeds and are waiting."   Vos explained that it takes more than three months for people to get their title deeds, so this Parliamentary-induced wait is just a drop in the bucket. He does not expect the restriction on sales to foreigners to last more than a few weeks to a month, but "You never know," he said.   “We had the same problem two years ago… and only the strong real estate businesses survived.”

*Betül Çal from Antalya and Damaris Kremida from İstanbul contributed to this report.]]> Off-Plan Property Development News http://www.lets-talk-turkey.eu/comment.php?comment.news.147 admin Thu, 17 Apr 2008 11:46:35 +0200 http://www.lets-talk-turkey.eu/news.php?item.147.3