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Twice as Many Turkey Properties Sold to Foreign Buyers

Twice as Many Turkey Properties Sold to Foreign Buyers

More overseas buyers than ever are purchasing property in Turkey official figures show. And that figure has been helped by a positive marketing campaign from the Turkish government itself, we’ve noted here at Oceanwide Properties Turkey.

 

Ovacik1-(1)According to the country’s Ministry of Environment and Urban Planning twice as many non-Turkish residents bought property in the country in the country within the first six months of 2013 compared to the same period last year. Many are attracted to the country’s stable economic situation – a welcome haven in comparison to the majority of countries in the Euro zone.

In fact foreign nationals invested in a total of 7,145 Turkey properties and land between January and July this year – in comparison to 3,107 between January and July 2012. Of those figures 6,229 sales were for houses while 916 went on land alone.

The 2013 figures showed that $2.6 billion worth of property sales went to foreigners during 2012 and $720 million in 2013 for just the first quarter of the year alone (ie January to April).

Turkish Property Sales by Non-Nationals Double Within First Quarter of 2013

So far the biggest buyers in Turkish real estate are Russians who have invested in twice as much as the second biggest buyers – Britons. The third largest nationality to invest in Turkey are German buyers.

Middle Eastern and southern Asian buyers are also increasing their stronghold since the abolishment of the country’s reciprocacy laws which previously stated that only nationalities of countries who allowed Turkish nationals to buy there were allowed to invest in Turkey. Another boom for foreign investors is that after they stay in the country for three months they are automatically granted a residency permit for up to one year. And yet more good news is that foreign nationals are now able to access a Turkish visa easily online prior to travelling. Other big Turkey property buyers include Norwegians, Swedish and Belgian nationals.

Thanks to an increase in the number of international flights available in Gazipasa property in Alanya (famous for its year round pleasant climate) is expected to become even more appealing to European investors as time goes on. The city sits just 30 minutes drive from the airport.

The airport offers flights from 12 different destinations in a total of eight countries such as Poland, Holland, Norway, Sweden, Denmark and Belgium.

Mersin on the South Coast has also proved popular with foreign national investors. Izmir and Yalova in Marmara have also done well.

Rise in Property Prices in Turkey

Property prices in the country have risen by more than 11 per cent over the past year, ensuring its ranking as one of the fastest growing property markets in the world during 2013.

Foreign investors are keen to put their money in to a market which, at this moment in time, is seen as one of the most stable in the world, thanks to Turkey’s having avoided the monetary disasters suffered by many EU countries.

For more insights into Turkish property and how to acquire it easily with confidence, please feel free to contact our team here at Oceanwide Properties.

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