Commercial real estate in Turkey
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. In addition, a need for housing is also a major factor driving the residential market. These have tended to be small or medium-scale projects, each often concerning no more than a single residential building.
For full copy of the article, plese click here.
This article was first published in the PLC “Commercial real estate in Turkey 2019” and is reproduced with the permission of the publisher, Thomson Reuters.