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Foreigners' Ownership of Turkish Real Estate in July

: 2017-09-06

Foreigners' Ownership of Turkish Real Estate in July
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Figures released by the Turkish Statistical Institute for July show that foreigners in other Turkish cities have owned 1726 properties. Figures show an increase in this number compared to the same period last year. Experts clarify this high demand for foreigners on the Turkish markets in general and real estate because of the government facilities provided in the recent period.

Based on the results obtained by the Turkish Statistical Institute for the month of July, the city of Istanbul, as always has topped the list of Turkish cities most owned by foreigners. Where the number of properties sold to foreigners in the city of Istanbul reached 528 properties. Istanbul was followed by Antalya, where 386 properties were sold, Trabzon ranked third with 121 properties, followed by Bursa with 102, Ayden ranked fifth with 100, and last but not least Yalova ranked sixth with 80 properties.

Recent figures show that there is a high demand from Arab investors for the Turkish real estate market, and the Arabs topped all the other foreign nationalities. Saudi investors have been in the top spot for a long time. In July, Iraqi investors bought 293 properties in July throughout the country. Saudi investors came second with 248 properties, Kuwait came in third with 142 properties, and Russian Federation Ranked fourth with 118 properties, and finally, England ranked fifth with 76 properties.

Real estate experts attribute the increasing demand for the Turkish properties by foreign nationalities to the package of legal reforms recently undertaken by the Turkish government to facilitate real estate ownership by foreigners in Turkey. Turkey has added many tax facilities to real estate for foreigners in particular. In addition to the advantage of obtaining Turkish citizenship exceptionally for investors in the field of real estate. 

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