Property Sales to Middle Eastern Investors Booming in Turkey
According to Turkish Daily Sabah newspaper Head of the Consumer Law Institute Arabic Real Estate Investment Commission, Hüseyin Sami Çaprak stated that 10,863 pieces of real estate was sold to Arabs in 2015, the number is nearly half of the entire sales made to foreigners in that year.
“This year, we foresee over 15,000 sales of real estate to Arabic investors,” Çaprak said.
Çaprak stated to an Anadolu Agency news reporter that he evaluated the data released by TÜIK of all the foreign real estate sales.
Çaprak reminded that while last year in the months of November and December they had expected Arab investors to purchase 2,000 more houses, “Our expectations were met with a higher outcome that what we were waiting for, with sales of 2,243 pieces of real estate in Istanbul Turkey
He stated that in 2015 22,991 housing sales to foreigners were realized, “We sold 4 thousand more pieces of real estate compared to last year. And this shows that the amount of interest for our country’s real estate sector is increasing. In 2015 a total of 10,863 pieces of real estate were sold to Arabs. And this is nearly half of the total number of real estate sold.”
“In 2015, the investors that preferred our country came from Iraq leading the way with 4,228 purchases, while Saudi Arabia made 2,704 purchases, Kuwait with 2.130 purchases, Libya with 427, the UAE with 332, Qatar with 277, Egypt made 318 purchases, Jordan made 243 purchases and Yemen made 231 purchases. Arab investors predominantly preferred the provinces of Istanbul, Bursa and Yalova,” Çaprak stated.
