Increase in foreigners purchasing Turkish real estate

AA
ANKARA
Published 24.11.2014 15:32
Updated 24.11.2014 17:54
Increase in foreigners purchasing Turkish real estate

Much of the demand for houses in Turkey in the first ten months of the year has come from foreign buyers, recent data releases show.

Just less than a million houses were sold in Turkey in the first ten months of 2014, and foreigners bought 15,417 of them, according to data released by the Turkish Statistical Institute on Monday.

This was an increase of 66 percent compared with 9,284 houses brought in 2013.

The total number of houses sold declined to 926,932 from 938,725 in 2013, for the period from January to October.

Antalya, a favorite holiday destination in the south of the country, was the most popular province for foreign buyers, with 5,486 homes sold this year; 4,546 houses were sold in Istanbul, 1,018 in Aydin, 903 in Mugla and 641 in Mersin.

"Turkey offers competitively priced property to foreign buyers, Turkish hospitality, a more economical lifestyle and affordable shopping compared with their native countries," said All Real Estate Agents Federation President Haci Ali Taylan.

Taylan said that there is increasing demand for luxury housing projects in the country from residents of Iraq and Libya, due to the turmoil in these countries.

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