Article

Published: 26/08/2011

Brits Are Now Most Popular Foreign Investors of Turkish Properties, Now 22% of Market

Property for sale in Turkey

Brits Are Now Most Popular Foreign Investors of Turkish Properties, Now 22% of Market

Property for sale in Turkey

According to official data by the Land Registry Directorate's Foreigner Affairs Unit, foreigners from 89 countries across the world have purchased approximately 111,200 homes across Turkey with some 35,000 Brits owning 24,848 properties, putting the UK top as one of the most popular buyers of Turkish property followed by Germans and Greeks.

Further research suggests that foreigners have bought real estate in 76 of Turkey's 81 provinces with a total of 12,190 properties in the economic powerhouse of Istanbul being owned by foreign nationals.

Supppy and demand according to the Turkey Residential Property Price Index, the cost of buying property in Turkey is rising steadily with sale prices having increased by 0.83% across the country with a 1.05% rise in Istanbul alone in July this year.

The research also indicates that buyers are searching for new build properties which have been growing in popularity amongst overseas and second home owners showing a 1.2% increase in new build buyers from June to July, 7.29% higher than the same period last year. There are also vast rental opportunities at large across the country seeing rental prices increase by 0.36%.

Property in Istanbul and the western suburbs located around Ataturk International airport such as Beylikduzu, one of the fastest growing areas, presents not only one of the best opportunities for investment but cheaper property prices than the rest of Europe, making the city even more attractive to potential buy to let investors especially given the increase in rental prices highlighted by the data."

With great transport links and a fast emerging economy Istanbul property is now one of the most popular investments with Investors who are keen on great returns in a city Investment with good solid growth forecast.

 

External Article Link: http://www.turkeypropertyplus.com/news/?id=354

Article Link: http://www.turkeypropertyplus.com/news/?id=354

Please contact the author at info@turkeypropertyplus.com for more information.