Therefore, unlike many other European countries where most of the land area is privately owned, much of the land in Turkey is still held by the state.
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The particular case of Hatay put apart, as of 1 June 2006, Antalya Province was in the lead in the number of foreign purchases of real estate in Turkey with 5566 lots sold, provinces of Aydın (3998), Muğla (3035), İstanbul (1463) and İzmir (722) occupying the following places.
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Purchasing property in Turkey has become more popular with holiday home owners and investors around the globe.
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Foundations also constitute part of the assets held by Vakıfbank, a bank originally founded with the purpose of putting the foundations in value for the economy of Turkey and named in reference to them.
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The principles governing purchase of property by foreign (i.e. non-Turkish) nationals in Turkey is governed by the 1934 Property Act (Law Nr. 2644 dated 22 November 1934).
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