Germans rank first in Turkey realty purchases

Yeni Safak – Of all foreign property investors, German nationals have acquired the most real estate in Turkey since property laws were relaxed last August, according to data from the Ministry of Environment and Urban Planning.

A total of 11,008 foreign nationals bought 10,687 immovables, 2,513 parcels of land and 8,174 housing units in Turkey over the past nine months with Germans in the lead with a total of 2,557 acquisitions. The British followed with 1,302 purchases, while Austrians bought a total of 352 properties in Turkey.

As first time buyers in Turkey’s real estate market, citizens of the Gulf countries - Kuwait, Saudi Arabia and the United Arab Emirates - acquired a total of 484 properties.

The popular Mediterranean tourist resort Antalya was the location most preferred by foreigners buying property in Turkey while the iconic city of Istanbul, one of the most promising property markets in Europe, came second.

Real estate purchases by foreigners reached a total of USD 2.6 billion in 2012, a rise of 31 percent from the preceding year. Last year, Turkey amended its property laws to enable investors from 189 countries to freely acquire property in the country.

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