Sabah – The leading real estate fair held in the world is coming to a close with visitors impressed by property projects displayed in several booths occupied by Turkish developers. Among the Countries of Honor with Brazil and Russia, Turkey is attending the MIPIM 2014 with 20 companies, alongside business associations and governmental bodies to present the country’s booming real estate market to global investors.
Speaking at the opening ceremony of ‘Country of Honor’ pavilion, the Investment Support and Promotion Agency of Turkey (ISPAT) President Ilker Ayci said that Turkey attracted USD 1.2 billion of foreign direct investments (FDI) in the first month of 2014, rising by 51 percent over the same month of the previous year.
"Real estate purchases by foreigners in Turkey reached a volume of USD 3 billion in 2013, rising by 15 percent over the previous year", he added.
Turkey lifted restrictions on property ownership by foreign buyers in 2012, opening the market to investors from Russia, the Arab world, and Southeast Asia. Long-term residency permits are also granted to investors acquiring property in the country.