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Turkey to lift ban on sale of land

Turkey: The Turkish Finance Ministry finalised two draft laws that allow sale of 2-B land and houses to foreigners. The new legislation removes the reciprocity condition that blocked the sales of Treasury land that has lost characteristics of forest land. Preparation of such legislative changes could be made possible only after the amendment of the Turkish constitution in the 2010 referendum.

If the draft gets nod of the Turkish Parliament, about 1 million houses and 1.74 million square meters of land whose cadastre works have been completed, all under the status of unqualified state-owned land also known as 2-B land, will be subject to sale.

Land subject to the new legislation makes up 3.4 percent of Istanbul’s lands, from which 26 billion Turkish Liras in revenue is expected to be gathered. The value of the land will be determined in accordance with the location of the real estate.

The land in the urban areas will be subject to sales within a month after the legislation enters into power, whereas three months will be given to prepare lands located in non-urban areas for sale.

There will be no limitations on municipalities regarding the square meters of land for sale in urban areas and containing gardens or buildings. The fee to apply for the sale of land in urban areas will be 2,000 liras, for non-urban it will be 1,000 liras.

If the public land has been used previously, it will remain to real and legal persons on condition that they have been using land for at least five years before the finalisation of cadastre procedures. Settlement in forest areas will be allowed on lands that have been classified as appropriate and registered as so by the Forest Ministry.

Source: www.hurriyetdailynews.com