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Istanbul Is the 1st Stage for Foreign Real Estate Investors

: 2017-05-26 Modified date : 2019-03-30

Istanbul Is the 1st Stage for Foreign Real Estate Investors
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Turkey occupies an important position among the countries favored by foreign investors in the field of real estate. The city of Istanbul, the commercial capital of Turkey, is at the forefront of Turkish cities in which foreigners are investing in many fields, especially in the real estate sector.

After the entry of the law of "reciprocity" into force in 2012, the citizens of many countries can own property in Turkey, which increased the number of properties sold to foreigners in other Turkish cities.

According to data from the Turkish Statistical Institute, the number of foreign nationals in Turkey reached 12,181 properties in 2013, and this number reached 18,959 properties in 2014, reaching 22,830 properties in 2015 and 118,189 properties in 2016.

Third of the properties last year were sold to foreigners in Istanbul. Istanbul ranked first with 5,111 properties. Antalya ranked second with 4,352 properties, the third with 31,131 properties, and the Iraqis ranked first in terms of ownership in the rest of Turkey, Saudi Arabia, Kuwait, Russia and England were among the top five in Turkey.

Real estate expert Ommet Damir said that Arabs are the most foreign buyers of real estate in Turkey, especially that it is possible to find suitable homes for all segments in Istanbul as it is a large city and contains many cultures, making it a destination for a large number of foreigners.

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