5/4/2009

Foreigners prefer coastal areas for realty investments

Today's Zaman - A recently released report indicated that about 86,000 foreigners from 85 countries purchased property in Turkey, primarily in the coastal areas of Antalya, Mugla, Aydin and Istanbul. According to the figures issued by the Land Registry Directorate, more than 36,000 foreigners own property in Antalya. This is followed by Mugla, where 14,700 foreign nationals have property; Aydin, with 10,216 foreigners owning property; and Istanbul, where the number of foreigners who purchased property is 9,481. The report also notes that in the last year, 10,386 foreigners acquired a total of 12,121,220 square meters of land in Turkey. The buyers come from a variety of nationalities, with the most diverse group in Istanbul, where foreigners from 67 countries acquired property. These countries include El Salvador, Mexico, the Philippines, New Zealand, Kuwait, Peru, Argentina and Singapore. A similar diversity of countries is seen in Antalya, where foreigners from countries as far away as Guatemala and Brazil purchased property. According to the report, the British own 14,862 condominiums in Turkey, while the Germans follow with 11,589. The Germans own property throughout Turkey; however their first choice is Antalya, due to its warm climate and sandy beaches. 6,645 properties in Antalya are German-owned, followed by the British (5,153), the Danish (4,466), the Dutch (3,423), the Norwegian (3,322), the Irish (3,087) and the Belgian (1,048). The British prefer Mugla province, on the Aegean coast, where 11,574 properties are British-owned.