Foreign investors in Turkish property can now buy assets directly without forming a local subsidiary, under new Turkish legislation.
The law change allows foreign companies to buy property anywhere in the country, apart from some restricted zones.
The new rules are expected to lead to increased interest in Turkish property among funds and international investors.
“We used to get one or two requests from foreign investors every month, but in the last month we have had 10 or 12 requests,” said Murat Ergin of Istanbul real estate consultant Kuzey Bati.
Turkey has trade agreements with 43 states permitting direct investment in property.
