A potential recovery for the Turkish real estate sector

3 may 2017
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The real estate market in Turkey has flourished and witnessed significant growth over the past few years, especially after the change in the laws of individual ownership of foreigners in 2012, which allowed them to own within the borders of the Turkish state, before witnessing a relative slowdown last year as a result of unrest in the country, And the ongoing war in Iraq and Syria.

Total property sold in Turkey during the first three months of this year about 4270 properties, Istanbul has acquired 1478 properties, while the city of Antalya, about 856, and the stock market, and Willow, Ankara, Izmir and many states on the rest of the properties sold.

"Foreign real estate investment in Turkey will see a significant increase in 2017 compared to last year," said Aziz Turun, chairman of the Turkey Real Estate Investment Association.

"Large investments this year from the Gulf countries, led by Saudi Arabia, Qatar, Kuwait, Iran, the UAE, as well as from African countries, the Balkans and the Turkish republics will be placed in the country," Turon said in remarks quoted by the Anatolia news agency.

"Statistics from the Turkish Statistics Agency indicate a slight increase in the sale of real estate during the last year, compared to the previous year, despite all the difficulties experienced in 2016," he said.

The citizens of the Gulf states, which witnessed during the past three years a decline in prices of crude oil, the main owners of real estate in many Turkish cities, especially Istanbul and Antalya.

The price of crude oil this year to the limit of $ 55 a barrel, compared with $ 37 in the corresponding period last year, a factor affecting the bringing of Gulf investment to the Turkish real estate sector



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