Location restriction I am hearing rumours that Foreigners can now own land in villages or outside villages in their own name and do not require a company. Does anyone know anythng about this - apparently called 2 B?
Location restriction and condition: 1) According to the Turkish Law, foreign nationals are not allowed to buy property in the military, strategic and security zones in Turkey.
2) According to the Land Registry Act (Numbered:2644); when foreign real persons buy a land (vacant property) without any construction, they have to require presenting their project proposal to the Ministry of Environment and Urban Planning within two years. If it is failed to begin the project within this two-year period, the real estate they have purchased will be expropriated.
But the Cabinet (Council of Ministers) is authorized to determine limit, partially or fully cease or prohibit immovable and limited right on property acquisitions of foreign national real persons and commercial companies, in terms of country, person, geographical region, duration, number, ratio, kind, qualification, square measure and amount.
The Cabinet hasn't published its decision about this issue. It is expected that the Cabinet decision will be published in near future. When the cabinet decision published, the restrictions and conditions related to acquisition real estate by foreign nationals and commercial companies will be cleared.