Turkey's statistics institute reports that record sales of property have been broken for local and foreign investors, and is expected to continue in 2018 as well.
Experts praise the role of reforms by the Turkish government to support the real estate sector, where the sector earned the largest share of government support in 2017, which led to a large number of investors on this important market, where figures indicate the volume of sales during 10 years, to sell 150 properties per hour on average throughout Turkey.
The Turkish government's exception to Turkish citizenship in case of investment in Turkish real estate and granting foreign investors exemption from certain taxes is very vital in this context, real estate officials say.
Large-scale projects have also played an important role in rising sales in several Turkish cities, such as the Third Airport Project and the Sultan Yavuz Selim Bridge. These projects have, for example, increased sales in Istanbul to foreign and local investors. The same goes for the cities: the Bursa and Yalova that are witnessing a significant leap in the real estate sector after the opening of Osman Ghazi Bridge. The situation is similar in the city of Canakkale, where the city witnessed a strong demand for the real estate sector even before the launch of the project of the huge bridge Canakkale Castle 1915.
Source: Emlak News TV