Turkish Property Market Exceeds Growth Expectations

Turkey took pole position among the list of European countries expected to sustain property price increases in the next 12 months.

This is according to a 15-country survey which features responses from more than 10.000 people. According to Turkish participants, 55% said they thought that real estate prices would increase in the future

Investor interest focused in three major cities, Istanbul, Ankara, and Izmir. Among the houses sold to foreigners, interest was surging in Istanbul, Ankara, and Izmir; Turkey's three largest provinces each recording property sales accounting for roughly one-third of all homes sold in the country.

 

Trend for Properties for Sale in Turkey

 

Turkey had a significant increase in in-house sales to foreign buyers in 2017, according to the Turkish Statistical Institute. This year, foreign investors, especially gulf countries ones, continue to buy Istanbul properties, according to market observers.

Over the past five years, Gulf investors had come to Istanbul, purchasing apartments as second homes. This was magnified because they felt a proximity with Turkey as a Muslim country. Additionally, they found the cultural vibe of the country charming. In 2018, that trend has accelerated. Turkey has many economic, political, and financial developments in recent years, so we saw that foreign interest has proved largely increasing.

 

 

Last Updated: 29.1.2019 16:52:21