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An increasing interest by foreigners to purchase properties in Turkey

Year on year property prices have been rising but prices for buying property in Turkey are still considerably lower than buying real estate and property for sale in other major tourist areas such as Spain and France making Turkey an ideal overseas property investment.

Turkey has seen explosive growth in foreign property investment over the last 3 years which has led to property and land prices, especially in the coastal regions rising by up to 200% (and some areas more than this).

Many investors compare Turkey with how Spain was 20 years ago, and we all know about Spanish property prices now.

There are several reasons for this influx of foreign property buyers:

Prices - even with the large increases in price over the last few years, Turkey still has some of the lowest property prices in Europe.
You can still purchase a villa below 60.000 € or an apartment for much less.

Climate - coastal Turkey offers an excellent year round climate. Mild winters, gorgeous spring and autumn and hot summers.

EU - Turkey has applied to become a member of the EU (if membership is granted, property prices will soar).

Infrastructure - Turkey is investing heavily in transport links and communications.

Economy - Over the last few years the economy has stabilised and Turkey is now (according to the World Trade Organisation) one of the 20 most dynamic countries in world trade.

Holiday Destination - Turkey is now a major European holiday destination, which gives an excellent opportunity to realise very good rental returns on property.

Local prices – (for food and local services) Prices are very low compared to the rest of Europe. Eating out is very inexpensive and the food is normally superb.
Remember that there are 3 great cuisines in the World. French, Chinese and Turkish.

Crime - One of the lowest crime rates in the World.

Lastly, the people. The friendliest and most hospitable people in the world.
All of the above make Turkey one of the best places to invest in property at this time.

Real Estate purchased by foreigners in accordance with country of origin

Country

Number of Object

Number of Buyers

Greece

12.557

14.459

Germany

10.827

11.750

UK

4.101

5.258

Syria

4.589

2.474

Holland

1.474

1.830

Italy

987

949

Northern Cyprus

998

908

Austria

867

738

USA

954

725

France

669

722

Resource: Land Register and Cadastre Directorate General, Ankara


Foreigners real estate purchase according to provinces

Province

Number of Object

Number of Buyers

Istanbul

9.522

9.753

Antalya

6.849

8.870

Izmir

3.930

3.804

Bursa

4.355

5.979

Mugla

3.479

4.283

Haty

3.409

2.094

Aydin

1.767

2.139

Mersin

1.065

1.043

Gaziantep

972

213

Balikesir

828

760

Ankara

705

494

Manisa

616

532

Kilis

610

229

Kocaeli

539

659

Yalova

537

615

Mardin

359

230

Tekirdag

249

244

Resource: Land Register and Cadastre Directorate General, Ankara (N.B.)

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