February 2008
The Constitutional Court of Turkey Rejected The Annulment Case of The Law on Acquisition of Real Estates by Foreigners.
The corollary of the court decision on the annulment action about three articles of the Law on Acquisition of Real Estates by Foreigners is published in the official gazete No: 26578, dated 16.01.
Through this case, the annulment of first, second and third articles of the Law on Acquisition of Real Estates by Foreigners had been claimed.
The first article of mentioned law provides the fundamentals of acquisition of real estate in Turkey by foreigners. The Constitutional Court rejected the annulment of all paragraphs of this article; besides, at the corollary text, it was explicitly stated as follows: “As in the case of many member countries of European Union, it has been noticed throughout the world that the acquisition of real estate by foreigners is restricted by regulations differing from country to country. Purchase of real estate by foreigners is also an undeniable significant matter for Turkey.”
However, the Constitutional Court annulled the first and seventh paragraph of this article regulating the authorization of Cabinet for determining number of real estate purchases by any foreigner and increasing the ratio of real estates purchasable by foreigners to the total surface area of related province. The legal ground for accepting this annulment claim is that the mentioned authorization is considered to be contrary to the principle of inalienability of legislative authority.
The second provision subject to the annulment claim enables performing transactions solely by applying to military authorities until the declaration of decisions on military, strategical and speacial security zones to the title deed officers. The third article provides the enforcement date of the Law. The Constitutional Court rejected the annulment action of these there articles.
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