What the media are reporting
New conditions and restrictions on “purchases” of properties in occupied areas are brought by the “Acquisition of real estate and long-term rental (foreigners) (amendment)”, which was “adopted” with a majority by the “parliament” and increases from one to three houses that Turkish citizens are “entitled to buy” in the occupied territories.
A publication in Halkin Sesi, as reported by the Press and Information Office, states that according to the new amendment, foreigners will be able to buy an apartment or a house in the occupied territories, while citizens of countries that recognize the pseudo-state or give the right to “citizens of tdvk” to buy three houses in their country, they will be able to acquire three houses or apartments in the occupied territories.
Under the previous regulation, the block on which the independent house was located could be up to 5 acres, while with the modification this area was reduced to 2.5 acres.
With regard to the investments made by foreigners in the occupied territories, the amendment increased from three to 20 million euros the amount they are required to invest, while leaving the area of land they are entitled to purchase at 60 acres.
Foreigners will not be able to purchase land without restrictions through companies or a manager, a company or a manager where a foreigner owns even one percent of shares will be considered foreign and will only be able to buy one house and 60 acres of land with investment 20 million euros, according to the publication.
Thanks to the new “law”, significant sums will be collected from notification fees, registration fees and taxes, the publication notes, adding that they will be deposited into the account of the “real estate commission » half of the fees to be collected from notifications to the “ministry” both when registering contracts that were not registered during the transitional period, and when applying outside of the “transitional provisions of the law”. The other half will be deposited in a special account to be opened for use in the “land services” in the “income and taxation departments”.
