A Property in Turkey has access to thousands of cheap properties for
sale, rent and auction throughout all regions of Turkey.
Turkish real estate is added to our website by estate agents in Turkey, private
sellers and property developers so you will be dealing with the actual seller of
the property in Turkey when you make an enquiry via our website.
Turkey has emerged as an excellent investment country during the past few years
as more people look at buying property in Turkey as an investment vehicle
for their overseas property purchase. Turkey has enjoyed a steady rise in both tourism
and real estate investment over this period and is well placed for future potential
The growth of the tourist market has also led to the increase in overseas home ownership
especially by the British who have been taking their holidays in Turkey for decades.
This direct increase in tourism has also brought forth the demand for good rental
accommodation which in turn has fuelled the home ownership market.
Investment property in Turkey has led to many overseas investors
buying properties to rent out to the increasing tourist trade. With some exceelent
returns on rental yields and such low cost entry it's no wonder Turkey is proving
to be a wise choice for the overseas investor.
Popular coastal locations of Turkey include the resorts of Bodrum, Altinkum, Fethiye
property in Antalya, Kusadasi and many others not to mention the popularity
of the city of Istanbul with its bazaars and nightlife.
Real Estate Sales Soaring in Turkey
The number of foreign buyers has never been this big in Turkey’s real estate market
since the Turkish Republic was founded. Foreign buyers of Turkish property accounted
for $1.1 billion in May 2012. This figure is four times the entire crowd of real
estate buys completed by foreign purchasers in 2011. It seems all the more incredulous
when you consider that sales to foreign real estate buyers were just $114 million
from January to April 2012. The figures are expected to soar even higher as the
months go by.
The Central Bank Balance of Payments reports that trademark firms in Turkey have
fallen behind in the acquisitions. 2008 was the year in which the largest purchases
were made in the real estate market when a staggering sum of $337 million was spent
on property by foreign investors. Real estate property worth $209 was bought by
foreigners in 2009, while 2012 recorded $314 million and last year saw $310 million
invested in by foreigners.
Influx of European investors
Holding President Teknik Yapi and President of the Istanbul Contractors Association
Nazmi Durbakayim say that the real estate market in Turkey was experiencing an influx
of prospects from two big European investors. They said that these investors visited
them recently and were interested in purchasing 1,500 pieces of property.
not look into the proposal too favourably as they prefer to focus on sales to the
customer and avoid speculation. He also added that the country’s reciprocity law
with regard to real estate created a huge opportunity for investors from the European
market. Durbakayim is of the belief that investors from foreign markets who purchase
Turkish property then sell the same to other foreigners.
Serdar Inan, the Chairman of Inanlar Insaat said that Turkey has the potential to
make sales worth $30 - $40 billion to foreigners. He also believes that the figure
of $1.1 billion in May is based on anticipation relating to the reciprocity clause.
The Co-President of Istanbul Realtors Chamber Nizamettin Asa believes that there
are close to 300,000 potential Arab and Russian buyers currently.
Luxury projects are expected to see a major rise in prices according to Asa. He
says their only fear remains in the fact that the increasing prices in the luxury
sector have the potential to trickle down and spark prices rises in the entire real
estate market. He also stressed on the fact that the real estate market accounts
for only 20% of the entire market, and if there’s a rise in prices for the remaining
80%, a bubble could be formed.
On the 3rd of May, a bill was adopted to remove the reciprocity condition and ease
constraints on real estate and land sales to citizens of foreign countries and firms
too. The Republican People’s Party is the main opposition that has appealed for
annulment and suspension of the bill to the Constitutional Court, with the argument
being based on the unconstitutional provisions in the bill.