A recent report by Turkey’s Iş Bank reveals that the value of house sales to foreigners in 2017 was $4.6 billion – this value is 19.4% higher than in 2016.
Total sales to foreigners was 22.234 units – this is an increase of 22.2% on the previous year and just 596 units shy of the record year of 2015. On a regional basis, Istanbul led the way with 8.183 units – Antalya claimed second position with 4.707 units, followed by Bursa with 1.474.
On a national basis, the top buyers of Turkish property last year were Iraqis, purchasing 3.805 units, followed by Saudis with 3.345 units and Kuwaitis (1.691) – European countries also featured highly, with the most prolific buyers coming from Russia, Norway, Germany, Sweden, Belgium and the UK.
Faruk Akbul, Chairman of Turkish Real Estate Consultants, Nevita International, commented that he expected this upward trend to continue in 2018.