The confidence felt in the Turkish economy has also been reflected in the sales of properties to foreign nationals. People from more than 120 countries, from the Bahamas to the Comor Islands and from the Dominique Republic to Mozambique have bought property in Turkey. While close to 18 billion dollars worth of real estate has been sold in the last 6 years, the sales in just last year exceeded 5 billion dollars. The Russians and the British were at the top of the league table of buyers. The Russians chose Antalya, while the British preferred Aydın, Muğla and Izmir. On the other hand, Iraqis and Saudis were at the top among the foreign nationals who purchased property in Istanbul.
The door has been opened to 183 countries
The change in the Reciprocity Legislation was an important factor in the increase in the sales of property. The right to purchase property was given to the citizens of 183 countries, and this resulted in people from many different places, such as Radius, Rwanda, Bahrain, Trinidad and Tobago, the Bahamas, the Norfolk Islands, the Virgin Islands, Liberia, Cambodia, Mauritius, Mauritania, Mozambique and Saint Kitts, starting to buy properties in Turkey.
The target is 10 billion dollars
The sales of properties to foreign nationals is expected to reach 10 billion dollars this year. Investments such as the new Istanbul Airport, the Yavuz Sultan Selim Bridge, the Gulf Transit Bridge and the Ovit Tunnel, have increased the interest of foreigners in Turkey even more. The confidence felt in the Turkish economy was also influential in the increase.
Istanbul is the favourite of Iraqis
The cities of Antalya, Istanbul, Aydın, Muğla, Mersin, Yalova, Bursa, Izmir, Ankara and Sakarya were at the top in terms of the sales of properties to foreigners. Close to 124 thousand foreign nationals have bought properties from these cities. 53 thousand 384 foreigners acquired properties from Antalya, while this figure was 20 thousand 275 in Istanbul, 18 thousand in Aydın and 15 thousand 500 in Muğla. The Iraqis were at the top among the foreign nationals who bought properties in Istanbul and Ankara, while the record in Antalya rests with the Russians.