Foreigners bought twice as much real estate in Turkey as compared to the previous year.
Investors from abroad were not intimidated by political instability in the country, and Turkey's income from real estate sales only in the first third of 2014 amounted to more than $ 1 billion. The Institute of Statistics of Turkey reports that in August 2014 the number of transactions with foreign citizens increased by 97% compared to the previous year and amounted to 1,744 compared to last year's 890. The following months also showed an increase in sales.
Antalya became the most favorite place for real estate acquisition by investors from abroad - 591 deals were made here. It is followed by Istanbul (511 transactions), followed by Mugla (133 deals).
The bulletin on "Foreign direct investment" issued by the Ministry of Economy of Turkey states that almost 12,500 foreigners from 104 different countries purchased 1,253 land plots by May 2014. And this is 48% higher than the previous year.
The procedure for acquiring housing in Turkey was simplified, and the restrictions that were in effect before that were lifted by the government. This led to a real investor's boom in real estate. Many new projects aimed at improving residential infrastructure have also inspired foreigners to buy.
Removing restrictions on the purchase of real estate by foreign citizens helped to increase the number of mortgage loans issued in the country - compared to last year, their number increased by 12%. Also in Turkey, the value of real estate also increased: in September, prices increased by 1.6%. Predominantly, the increase in prices touched the coastal regions - in connection with the interest of foreigners to the areas in which the popular resorts are located. Most of the houses here are bought by citizens of Great Britain, Germany and Russia.
According to experts, the construction of the Istanbul canal will greatly influence the Turkish real estate market, development of infrastructure and attraction of investments.
At the moment this is the most ambitious project of the country: the channel will connect the Black and Marmara Seas, and its "line" will radically change the appearance and infrastructure of the adjacent coast.
HomesOverseas.ru
