6/23/2015

Property purchases by foreign buyers hit historic high

Milliyet – Property purchases by foreign buyers in Turkey reached a new record in May, according to data from the Turkish Statistical Institute (TurkStat).


A total of 1,982 properties in the country were acquired by foreigners last month, up 21.3 percent from the same month of 2014. Among the locations preferred by foreign home buyers in Turkey, Istanbul took the lead with 636 sales, followed by the coastal city of Antalya with 545, while Bursa, popular with Arab tourists, attracted 128 foreign buyers.

 

Property sales to foreigners during the first 5 months of 2015 also went up by 19 percent over Jan-May period of last year, amounting to a total of 8,097 transactions.

 

Turkey’s easing of the property ownership restrictions that apply to foreign nationals in 2012 and the abundance of projects suited to foreign buyers triggered an inflow of investments into the country’s real estate sector.


The amount of real estate purchases by foreigners in Turkey reached USD 4.3 billion in 2014, up 41 percent over the preceding year.

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