Commercial Real Estate in Turkey: Overview
1. What have been the main trends in the real estate market in your jurisdiction over the last 12 months? What have been the most significant deals?
During the past 12 months, residential development has had a major role in the real estate market. The continuing initiative of the government to replace existing buildings with stronger ones, due to the potential earthquake risk, led to the enactment of the Urban Regeneration Law, which provides tax incentives, state-provided financing options, and expedited regulatory review procedures for these replacement efforts, giving rise to a flurry of construction...
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The law is stated as at 1 February 2018.