Domestic and Foreign Real Estate Rentals Handed Over to AgenciesFollowing discussions with travel agencies, the Ministry of Culture and Tourism enacted a new law that grants agencies the right to rent out summer homes and vacation properties owned by both domestic and foreign individuals. The aim of this law is to alleviate the difficulties experienced in the tourism sector and to revitalize it.
Cited as Unregistered EconomyOur country has millions of real estate owners, both domestic and foreign. Those who own properties, especially in holiday resorts, rent out their properties through the internet or newspaper advertisements. The Ministry of Culture and Tourism has identified this situation as part of the unregistered economy. It has been decided that such rental services will now be provided by travel agencies. This decision has been legally accepted. Henceforth, agencies will be preferred for these types of rentals, and all rental services will be legally visible. Thus, an increase in tourism revenues is targeted.
