New laws proposed in Turkey could allow foreign buyers from anywhere in the world to buy and sell property there.

Currently Turkey’s foreign ownership law is based on reciprocal agreements with other countries – property may only be sold to foreign nationals of countries in which Turkish nationals are allowed to own property.

Under the current law, 89 nationalities are prohibited from purchasing Turkish property, including people from Russia, and many Asian and Gulf State countries. British buyers form the largest group of foreign investors in Turkey, where investment is has been fuelled by the countries thriving economy and tourism sector.

If the proposed law goes ahead, an influx of Russian and Arab investors are expected into Turkey, meaning the already popular property market could see a sudden surge in activity. This effect could push prices up, as demand increases.

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