New Turkish mortgage laws 'will create significant investment opportunities'
Property investors in Turkey are likely to benefit significantly from the introduction of new mortgage laws, according to new claims from a law firm.
Previously, Turkey had no regulated housing finance system to speak of, but since the introduction of new laws, the property finance infrastructure in Turkey has improved, stated Guner Law Office.
The company noted that although experts have not been "entirely satisfied" with some of the new regulation, the changes can be viewed as the "first steps" of a process that is likely to yield major benefits for the economy.
The report from Guner Law Office, as quoted on the Mondaq website, said: "It is therefore without question that the scheme for housing finance and mortgages created by the mortgage law will rapidly become part of daily life; and create significant opportunities for multi-national corporates/investors seeking new investment opportunities."
Additionally, foreign capital is likely to flow into Turkey more freely - something the government is actively trying to encourage, the firm concluded.
The Turkish government has implemented a programme of reform that will overhaul the entire economy, in preparation for the country's proposed accession to the EU.
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