A New Financial Instrument for External Balance: International Real Estate Investments
Mehmet ALAGÖZ

Abstract
Foreigners have increased their real estate investments since 2003. Therefore, a new finance account of which visible fiscal burden is zero has been emerged. This finance account has increased as a result of liberalizing policy on having real estate of foreigners. However, this finance account contributes to balance of payments positively. Whatever position foreigners have real estate, examining this topic only with economic idea and ignoring political, military, social issues will carry future of country anywhere not further the condition of multi probability equation.

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