Turkish property sales up 75%
Over the past year, foreign sales of Turkish property have increased by 75 percent.
New data from TurkStat this week shows that the number of property sales in Turkey to foreign buyers in September 2017 was 2,236 homes, up 75 percent from 2016.
Across the country, foreigners of different nationalities are buying residential properties. The top five buyers are Iraqis (17 percent), Saudis (15 percent), Kuwaitis (7 percent), Russians (5 percent), and British (4.6 percent).
“Incentives such as tax cuts and VIP citizenship are attracting international buyers and with these encouraging figures, 2017 could well be a record year for Turkish property sales to foreigners. Interestingly, the growth also matches the record number of homes sold to Turks during this period,” comments Julian Walker, director of real estate in Turkey.
35 percent of homes sold (797) were in Istanbul, making the city the most popular destination. Turkey's largest metropolis has consistently been the number one destination for foreigners to buy property.
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