IMPORTANT UPDATE: Please note this law has moved on. Please see comments.

Not a very nice headline for those looking to buy property in Turkey but a true one never the less with news that the highest court in the land has suspended property sales to foreign nationals and foreign companies. This is a very interesting thread which shows how divided the property investment market is, some suggesting that the new laws will be introduced in a matter of days and others not prepared to enter into any agreements until the new laws have been passed. As with any investment market, confusion is the worst possible scenario leaving the situation open to rumours and counter rumours which are not helpful.

The thread itself reads like a timeline from the moment the law was passed and the government were given a three month period to introduce new laws, to the time when suspension of property sales to foreign nationals and foreign companies was suspended. There is also a very interesting comment from someone in the Turkish property market suggesting that the country has a history of changing property laws at a moments notice and causing widespread panic only to rectify the problem at a later date. Continue reading ‘Turkish Property Market Affectively Bans Foreign Investors’ »