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Rise in Foreign Ownership in Turkey During 2017

Real estate experts predict that the demand for real estate in Turkey will continue to increase at this stage, especially after the qualitative leap in the sector in August...

2017-09-29 Last update 2020-02-13

Rise in Foreign Ownership in Turkey During 2017

Total sales of real estate in the last 8 months in Turkey amounted to 900,000 and the proportion of foreigners who owned in Turkey increased by 9 percent during that period. Experts attributed the increase in sales to recent reforms by the Turkish government, such as exemptions and reductions on VAT (KDV) and the possibility of gaining Turkish citizenship through real estate acquisition.

Real estate experts stress the need for continued cuts and tax exemptions, as well as new reforms in the property registry fee system to keep the real estate sector going.

Real estate experts emphasize the need for continued political stability to ensure real estate stability, especially after the jump in the Turkish economy after reaching a political stability.

The real estate offers that have recently started to play a major role in increasing the demand for real estate sector, where a new offer began, the third in this context in the real estate sector of real estate companies to provide the possibility of real estate investment through easy installment,  purchase, receipt of the property and start payment in 2019. In addition, another option has been offered in the context of this offer so that a 15% reduction in the price of the property can be used if cash is paid.

The coming period will witness many reforms and facilitations for foreigners in Turkey through many similar offers.

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