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Saturday 7 April 2007

Single-Day Akbuk Property Sales

According to Today's Zaman (my favourite source for news about Turkey), the security check process that until now has delayed property purchases by foreigners for as much as 12 months is soon to be speeded up. The Turkish Land Registry now has greater access to the information, kept by the Turkish Defense Ministry, about what property is militarily sensitive and thus can't be bought by foreigners.

Don't expect too much from this news just yet though - all it means in practical terms is that the Land Registry can carry out the checks themselves instead of passing the documentation to the Defense Ministry. But if this can be taken one step further and the information made available to the Land Registry at a local level, potentially foreign property buyers will be able to purchase property in one day, just like Turkish buyers!
Source: Today's Zaman