Owners of Turkish Property Face Fines

Owners of Turkish Property Face Fines

Istanbul Turkey Figures released from Turkey’s Ministry of Public Words and Settlement shows that about 65% of buildings in the country do not comply with its zoning laws. In a bid to clamp down on properties without title deeds in Turkey, the government there threatened to fine foreign property owners with incomplete deeds 10,000 Turkish lira (or €4,617).

It was feared that homeowners of holiday villas … and apartments in Turkey would face significant fines after been issued with a warning that if failed to convert a transitional title deed obtained in 2007 to a full title deed within two years, they would be fined.

However it has come about that homeowners will now not be fined as the government has come to a realisation that it was a failure on the developers’ part to meet planning regulations and not the current homeowners.

Although the Turkish Government has been forgiving to foreign property owners this time round, speculation is now rife that the government will compile new measures to tackle property deeds and construction issues.

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  1. International Property Agents at 1:12 pm

    It will be of great benefit to everyone investing in property in Turkey if the Turkish Government can work out a suitable solution to the title deeds problem – but I’m glad the solution won’t be fining foreign property owners!

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