4.5 Billion Dollars the Volume of Real Estate Sales to Foreigners in Turkey
The Turkish Real Estate Association issued a report on the latest changes in the real estate sector in Turkey. The report referred to the latest developments in the past years, especially in the field of selling real estate to foreigners, and the report that the sale volume of foreigners is currently $ 4.5 billion and that it can be up to 10 Billion dollars over the next five years.
The report pointed out that the prevailing political stability in the country is the biggest factor in the context of foreign investors to the Turkish real estate market and ownership significantly, and experts indicate that if the continuation of this stability will increase demand more.
Experts also give great importance to the recent amendments of the laws, especially amendments that would grant Turkish citizenship to investors in the real estate field.
On the other hand, the recent tax exemptions granted by the government to foreigners and expatriates who buy real estate from Turkey played a big role in increasing the demands of these investors.
The positive result of the referendum on the Constitution was one of the most factors that increased confidence in the Turkish markets in general and the real estate market in particular.