%20 the Sales of Luxury Apartments for Foreigners

Representative of the Turkey branch of the Reden Group, Mr. Karim Bertrand, said in a speech to reporters that ...

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2017-04-14 Last update 2020-02-12

%20 the Sales of Luxury Apartments for Foreigners

Representative of the Turkey branch of the Reden Group, Mr. Karim Bertrand, said in a speech to reporters that foreigners have bought %21 of all high-end luxury properties in Turkey out of all apartments and houses sold last year.

Mr. Bertrand noted that the competitive real estate offerings offered last year have led foreign investors to buy luxury properties, this has led to sell one in five apartments for foreigners.

He added that the month of December last year was a quantum leap. The percentage of luxury apartments sale to foreigners in January has reached %34, in March to %30 and in April and May to %23 it has changed differently and it sometimes reach %18, the full annual rate to be 21%. Bertrand also added that the beginning of this year was somewhat stagnant in terms of sales to foreigners, especially in February.

He said that property prices were paid in cash by domestic and foreign investors last year by %33, while another part preferred %34 by securities such as bonds and %34 by bank loans.

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