NEWS Foreign Buyers and Investors Keep Going to Choice Turkey

According to statistics released by TSI (Turkey Statistical Institute); 9,595 residential units were sold for investment or residential purpose in the first half of 2017, the same period of 2018, an increase of 18.8% was observed. When we look at the main reasons for the Foreigners buying property in Turkey, exchange rates, government incentives to attract foreign investors, and occasional regulations play an important role.

In the January-June period of 2018, a total of 11,816 houses were sold to foreign nationals. Istanbul took the first place in sales of foreign houses. Foreigners bought 3,999 houses in Istanbul during this period. Turkey's largest and crowd’s city Istanbul, offers many skyscraper projects and attracts investors.

Antalya, the capital of summer tourism, became the most popular destination after Istanbul. 2,883 housing units were sold in Antalya during the same period and the third place is Bursa, which has entered the market quickly and effectively. During this period, 702 houses were sold in Bursa. In the sales order of houses, Yalova was ranked fourth, followed by TrabzonAnkara, Mersin, Sakarya, Aydin and Muğla. In other provinces, foreigners bought 905 houses in the first half of last year, in the same period of this year 1.326 houses sold with 31.8% increase.

Most real estate buyers were Iraqis with 3.805 real estates. The second order is followed by the sale of 3.345 houses, the Saudi Arabia. Third place is Kuwait with 1.691 sales. The British have bought 794 houses in total. According to the statistics, the British prefer holiday villages in the Aegean and Mediterranean regions such as DidimFethiyeBodrum and Kalkan.

As a result of recent developments in the Middle East, our country is become home to many foreign nationals. Turkey also is increasing their demand for home ownership, granting Turkish citizenship to people who invest in real estate or bought over 1 million dollars. With this law, the number of houses sold to foreign investors, especially from the Gulf countries, is expected to increase by 50-60 thousand per year.

Representatives in the real estate sector declare it is possible to increase the number of foreign-owned housing.

The expectation of the sector is that the investment amount of 1 million dollars will decrease 300 thousand dollars. If this decline occurs, it is expected that foreign-made sales will exceed 10 billion dollars.

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