There is unrest in the Turkish property market because of a court decision that, for the time being, foreigners can not buy property in
“Have I lost my money now?”, asks Dutchman Peter by mail to his advisor on the Turkish property market, Tugrul Sezgin. And Claudia mails: “What about this new law? Will this make it hard to buy a house?” Tugrul can comfort his customers, he says in fluent Dutch from Kusadase on the Turkish coast. “Acquisitions in
It’s not the first time that the Turkish property market for foreigners has struck heavy weather. In 2006 measures were taken to prevent foreigners from buying too much Turkish land. A specific law gave the authorities the opportunity to grant foreigners permission to buy more land in specific situations. But authorities waited too long to enact the amendment, which led the court to decide to freeze all sales to foreigners. The government now says it will take care of the law soon, but in the meantime, the situation causes uncertainty for private individuals and damages foreign investment and therefore the Turkish economy.
Peter Huisman, who works for Alanya Estate Agents in the south of
For two clients Huisman will probably indeed found a company, but there are also people who for the time being have canceled their purchases. “I can understand that”, he says, “because this sort of unrest makes people insecure. Even though the law will soon be revised, confidence in the market suffers from these sorts of things. And confidence in the market has only just returned after the previous unrest.”
(written for Dutch news agency ANP)
Setting up a fake company?.. Hmm it doesn’t sound very right thing to do.