Saturday, 25 October 2014

New regulation for square meter declaration in Turkey

It is stated that with the new regulation for square meter declaration in house sales, confusion will be end in the sector, and consumer rights will be protected. 

With the instruction of İdris Güllüce, Minister of Environment and Urban Planning, a new regulation is being prepared for real estate sales. With the regulation, confusion in the sector will end in housing sales. 
Turkey prepares new regulation for square meter declaration
Consumers were not able to claim a right, when there was a disagreement about square meter of house. Thanks to new regulation, if square meter of house is lower than the stated size on sales agreement, this situation constitutes a crime. 
All administrations, which are authorized to make building license, have been informed by General Directorate of Professional Services to implement the “Zoning Regulations”. Gross and net area of houses will be determined according to this regulation. 
Tahir Tellioğlu, President of Confederation of Construction Contractors, said that consumers were worrying for years about the square meter of houses.

Tellioğlu stated that with the new regulation for square meter declaration in real estate sales, confusions will end. 
“Unfortunately, there are many rotten apple in the contracting sector. They constitute distrust in the sector. However, this regulation will finish the lack of confidence. We support this project,” he said.

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Saturday, 18 October 2014

Turkish home sales to foreigners on the rise

Turkey’s sun and seas continue to lure foreigners from colder climates. At the peak of the summer season in August, foreigners bought 1,774 homes in Turkey, a twofold increase from the 840 purchased the same month in the previous year.

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The largest number of those homes, 591, was in the Mediterranean province of Antalya, Turkey’s tourist hub and a favorite destination of Russians, followed by Istanbul with 511 homes, Mugla with 133, Bursa with 96, Aydin with 92, Mersin with 70, Yalova with 64, Ankara with 38, Sakarya with 29 and Trabzon with 28. The remaining 121 homes are in other provinces.

In the first eight months of the year, foreigners bought a total of 11,754 homes, compared to 7,238 for the same period in 2013. Antalya again topped the list, with 4,284 homes, followed by Istanbul with 3,444, Aydin with 753 and Mugla, with such popular resorts as Bodrum and Marmaris, with 688.

Top 10 buyers and favored locations

According to statistics obtained from the Environment and Urban Affairs Ministry, foreigners owned a total of 111,579 homes in Turkey as of August 2014, with Britons topping the list with 34,355. Russians have climbed to second place with 11,770 homes, overtaking Germans who were third with 10,144.

The other buyers in the top 10 are from Norway (7,681 homes), Ireland (5,532), Denmark (5,118), the Netherlands (4,811), Sweden (3,326), Iraq (1,650) and the Turkish Republic of Northern Cyprus (1,262). The top 10 account for 85,649 of the foreign-owned homes. The remaining properties are owned either by nationals of countries outside the Top 10 or that are not disclosed for various reasons.

Figures show that nationals from countries with cooler climates — such as Russia, Sweden, Norway, Denmark, the Netherlands and Ireland — are those who prefer Turkey’s warmer regions. Many of the foreigners owning homes on the coast appear to use their properties not only as summer homes, but throughout the year.