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Syria allows foreigners to purchase real estates

12-15-2010 09:28 BJT

DAMASCUS, Dec. 14 (Xinhua) -- Syrian Ministers Council ratified Tuesday a law that allows foreigners to possess real estates in Syria, the official SANA news agency reported.

Syrian economist Ziyad Ghoson told Xinhua by the phone on Tuesday that the new law will open wide opportunities for thousands of foreign families who have been living for years in the country.

The law might also cause real estate prices to rise after months of depression, added Ghoson.

The legislative decree of 2008 denied foreigners to possess more than one flat in Syria, and according to the decree, the heirs were forced to sell the flat within a year when the owner passes away.

Editor:Du Xiaodan |Source: Xinhua

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