Turkey has Started to Issue the Residential Permits to the International Buyers of Home
It has been seen that Turkey has become the one of the most promising real estate market in Europe for the international buyers and now they have the right to buy the residency permit no matter what the price of the property they buy.
By change of the law by the government that has allowed the international buyer of the property that they can be granted a one year residency permit that the permit could be extended for indefinite time period shall the individual hold the possession of the property that he bought in Turkey. According to old rules the foreigners can only get the 90 days stay without residency permit in country.
It is published in the official gazette of Turkey; the extension of the permit is expected to attract the morel investor in real estate sector to Turkey. Turkey real estate is getting growth and facing boom since the foreign investors allow investing in real estate sector.
The reports also praising the efforts made by industry, the emergence of interest in real estate in Europe in the year 2013, the report is made by urban land institute and pricewaterhouseCoopers, they point out that Istanbul is the place where new investors love to invest their money as the city rank first in terms of development prospect. Another report by from Ernst & young has ranked turkey as the second most favored and attractive country in real estate sector in Europe. Real estate investment by the international buyers reaches 2.6 billion in the year 2012 that will increase 13% following year.