Living in Beyoglu is nice but noisy. It has its own flavor, and not everyone feels happy about the offerings of Beyoglu. I received an email from a reader who is disturbed by the violence from a bar in Beyoglu. The letter reads as follows: “Your columns dealing with legal issues are always helpful. It [...]
Investors looking to purchasing property in Europe this year could be well advised to choose Istanbul, the number 1 city for new property acquisitions and developments according to the latest Emerging Trends in Real Estate Report Europe from PwC and the Urban Land Institute. For the second year running, Istanbul, Turkey’s largest city and home [...]
At a recent press conference, held by the Turkish Real Estate Investing Partners Association (GYODER), it was revealed that property sales in Turkey to foreigners in 2010 were up 40% reaching sales of $2.5 billion compared to the previous year. Not quite eclipsing the pinnacle of Turkey’s property performance, between the economic peak in 2006 [...]
Declaring a lower purchase price and registering the property at less than its real and actual purchase price, although tempting because both parties will pay less in sale/purchase tax, does carry a significant risk. In the case of declaring a lower sales price, the return on a sale will be higher and, thus, the buyer [...]
As we say in Turkish, “Malın var mı derdin var” (If you have property, then you’ve got a problem). Like any other investment, property investment is also subject to regulations, and an investor should consider several factors when investing. A property investment is not always a “buy and sell at a good profit” or “buy [...]
An e-mail from a reader who is in the process of divorce says: “I hope that you can advise me on the following problem as I don’t know who to ask. My estranged husband and I are UK citizens and purchased two properties in Turkey. One property is under joint names on the tapu [deed], [...]
A Turkish proverb says, “Once you have property, you have a problem.” This proverb gently addresses the problems of the modern world and demonstrates the difficulties of having things. On the other hand, almost nobody can stop herself/himself from having things. I also find Tracy Chapman’s song mentioning “Mountains O’ Things” very meaningful. A dear [...]
These zones are designed to increase the number of export-focused investments. Legal and administrative regulations in the commercial, financial and economic fields applicable within the customs area are either not implemented or partially implemented in such free trade zones. In general, all kinds of commercial activities can be performed in free zones such as manufacturing, [...]
Title deed problems – In the normal world, people trust the other party when making a contract. In the past, Turkey was a place where you could make a hand shake deal with confidence. There are still some people who count on handshake deals, while there are other people who even trust a written agreement. [...]
Historically, it was nearly impossible in most instances for a foreign national to purchase real estate in Turkey. Indeed, for the most part, Turkey maintained a nearly absolutely blanket prohibition against foreign nationals having the ability to directly purchase and own real estate in that country. In 2003, the Turkish government liberalized the laws pertaining [...]
Historically, it was nearly impossible in most instances for a foreign national to purchase real estate in Turkey. Indeed, for the most part, Turkey maintained a nearly absolutely blanket prohibition against foreign nationals having the ability to directly purchase and own real estate in that country. Property in Turkey – Guide to Buying Property in [...]
