Azerbaijan, Baku, Nov. 26 / Trend, A.Taghiyeva /
Turkey plans to extend the residence permit term from three to 18 months for foreigners having property in the country, Turkish Minister of Environment and Urban Development Erdogan Bayraktar was quoted today by Sabah newspaper as saying. The decision was taken within the law allowing foreigners to buy property in Turkey.
Bayraktar added that in the future this decision will accelerate the process of granting Turkish citizenship.
Foreigners have purchased real estate in the country with a total area of 1.16 million square metres since a law allowing foreigners to buy property in Turkey was adopted. That is since August 2012, the report of the Turkish state body on land cadastre and purchase-sale said earlier.
According to the report, foreigners have bought 2578 real estate units in Turkey since August.
According to the new law, a foreign buyer may purchase up to 60 hectares of land, adviser to the Turkish Economy Minister Alparslan Uymaz told Trend earlier.
Uymaz said that it is now possible with the permission of the country's general staff in accordance with another amendment.
According to the law, more than 10 per cent of the total area of land plots in each province cannot be sold to foreign citizens.
Previously, only citizens of those countries in which Turkish citizens could buy a land plot could become property owners in Turkey.
