According to reports, over 14 years between 2003 and 2017, foreigners bought properties in Turkey worth a staggering 42 billion USD. Reviewing the data for 2017...
According to reports, over 14 years between 2003 and 2017, foreigners bought properties in Turkey worth a staggering 42 billion USD. Reviewing the data for 2017, foreigners invested in total of 22,234 properties in Turkey. Buyers of residential property came from far and wide, with the top buying nationalities coming from the Middle East regions and UK.
The first quarter for 2018 saw a 20% increase year-on-year for foreigners buying homes in Turkey. This situation increased in April to 25% with a total of 2043 houses purchased by foreigners. So far, Iraqi, Saudis, Iranians, Kuwaitis, and Russians were the top buying nationalities.
In general, home sales to foreigners rised again in 2017 and experts foresee that 2018 could be the best year yet.
Property For Sale in Turkey; The Most Popular Regions?
Some regions are more popular for foreign buyers than others for multiple reasons.
Istanbul Real Estate Market:
In 2017, Istanbul, the hub of economy, business, tourism and finance in Turkey saw 8,182 homes purchased by foreigners. Istanbul is currently undergoing a housing modernisation program with investors mostly buying apartments in , modern, large, skyscraper buildings with a selection of onsite community facilities.
Extending along the all southern coast, Mediterranean region of Turkey covers many districts of which Antalya and Fethiye are favoured by buy-to-let investors looking for holiday rental income and potential expats who want to live in the country permanently.
European and British buyers tend to prefer these areas. Also the main city center, Antalya breaks down into separate towns of Kemer, Alanya, Belek, Side, Kaş and Kalkan. Belek is renowned for its luxury villas and it is a haven for golfing properties.
Meanwhile, Britains especially like Fethiye which includes the main city center and smaller coastal resorts called Çalış beach, Hisarönü, Ovacık and Ölüdeniz
3 towns stand out as hotspots for foreign buyers in the Aegean zone. These are Kuşadası the cruise ship port, close to the ancient ruins of Ephesus, and its neighboring town of Didim, which has a major British expat community, hence its nickname is “Little Britain”.
A little further south, the Bodrum Peninsula, a major hub of the Turkish Riviera delivers up desirable locations such as traditional Gundogan or upmarket Yalıkavak.
Scenic Yalova and Bursa
Yalova and Bursa are latecomers to the Turkish property market, yet their popularity over the last 3 years has soared. Whereas Mediterranean and Aegean areas attract Europeans, Bursa and Yalova are loved by Middle Eastern nationalities who find many cultural similarities. These areas are also well enough scenic and ideal locations for families.
Remember that; investment in Turkey is a wise choice.
Last Updated: 4/8/2019 5:26:19 PM