Acquiring real estate property of foreigners in Turkey.

During the recent years, there has been mobility on acquiring real estate by foreigners in Turkey. The law makers have been involved in making new legislations in this area for a decade. The reason for making new legislations from amendments is to primarily cover the legal gap due to cancellation of the legislations by the Constitutional Court. Each amendment in the legislation has had a tremendous influence in media and on the public. This further invokes the public opinion that the country is become more unfriendly with legislation regarding aliens acquiring real estate property. As a result, it is an important topic of discussion. The last amendment relevant to the topic was made with affect to the law numbered as 6302 passed on 3.5.2012. With this amendment, reciprocity requirement for aliens' acquiring real estate in Turkey has been abolished. Substantial powers are given to the Council of Ministers to acquire real estate in Turkey and therefore it has become easier for aliens' to acquire real estate in Turkey as compared to the previous law. There has been no amendment regarding foreign entities governed and owned by aliens with respect to the laws governing in their own countries national laws, and such entities acquire real estate in Turkey based on private law provisions. Keywords: Foreigner, Real Estate, Acquiring Real Estate by Foreigners, Law No. 6302