Mega Projects Increase Demand for Real Estate in Turkey

The Turkish Statistics Agency announced the volume of real estate sales in Turkey in 2017. The number of properties sold reached 22,234 properties valued at 4 billion and 600 million dollars...

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2018-02-19 Last update 2020-04-23

Mega Projects Increase Demand for Real Estate in Turkey

The Turkish Statistics Agency announced the volume of real estate sales in Turkey in 2017. The number of properties sold reached 22,234 properties valued at 4 billion and 600 million dollars.

Sales escalated by 22% compared to 2016. The total number of properties sold in that year was 18,189.

Istanbul topped the list of Turkish cities favored by foreign investors. The number of properties sold in Istanbul reached 8,182 properties, while Antalya came second with 4,707 properties and, Bursa of 1,474 properties.

Experts attribute the increase in demand for Turkish property to government facilities offered to foreign investors, such as exemptions and tax cuts. Arab investors have occupied the list of foreign investors in real estate.

In addition to the facilities provided by the Turkish government, large-scale projects in Turkey are playing a major role in the growth of the real estate sector, with transport projects contributing to the value of the properties surrounding these projects, and even those near them and roads leading to them, The Istanbul metro, the Eurasia tunnel linking Asia and Europe under the sea, the third bridge, and the third airport in Istanbul.

It is expected that the demand for real estate from apartments and residential areas will continue to increase in the coming period, within the various Turkish cities, due to the new projects being established continuously.

Source: Gayrimenkul Haber

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