When it comes to houses sold to foreigners in Turkey during 2017, we are talking about 22.324 homes. According to the Turkish Statistical Institute, there was an increase of 22% in home sales to foreign buyers, despite the internal turbulence. The leading countries are Saudi Arabia, Kuwait, Russia, and Afghanistan .
These results were result of a laws relaxation. In exchange for buying a house of US$1 million or more, the foreigners would get the Turkish citizenship. On the other hand, international buyers were “discharged” of paying 18% VAT on foreigner property.
International buyers concentrated their attentions specially in Istanbul and Antalya.
The most popular city to buy or invest is Istanbul with 37% of total. Antalya follows with 21%. Bursa and Yalova are other two most attractive cities. These four cities attract 70% of the investment.
It is predictable that during 2018 there will be an increase of more than 20%. This means that this year we can have 26.000 transactions that represents a sales volume of 7 billion USD.
It is also expected that Turkish government release new supportive regulations to motivate more foreigners to purchase real estate in Turkey.