In Turkey, shortly after the revision of new government law nr. 5782 back in May, 2012 enabling foreigners to buy land; the local real estate market majorly caught the eye of European buyers.
Although interest from overseas buyers and investors is mostly focused in areas that lie along the Aegean and Mediterranean coast, the demand for holiday homes is fuelling an unprecedented building boom.
Investors from the northern European countries such as Germany, Denmark and especially Russia have flooded into Turkey to buy their ideal vacation home.
Now foreign investment in Turkish property has become a very controversial topic, and a source of heated debate. Whereas those in favour speak in economic terms, those who oppose use a rather nationalistic discourse.
As one of the leading real estate information companies focusing on emerging markets, REIDIN.com, has compiled data regarding foreign property ownership in Turkey.
How many people?
How many foreign individuals own immovables in Turkey today? According to REIDIN’s statistics compiled in August, there are 125.449 people who own real estate in Turkey. Here are the top 10 cities who are the foreign owners’ favourites:
Who are they?
When looking at foreign property numbers, we can see that Turkey is still popular among European countries – in fact, the majority of foreign real estate owners are of European origins. Here are the top 10 countries:
How many properties?
By August 2012, there are 116.455 properties in Turkey which belong to foreign nationals. So, the above-mentioned 125.449 people are the owners of 116.455 properties in Turkey. The most preferred city in Turkey seems to be Antalya, whereas the least attractive cities to foreigners appear to be Gümüşhane, Siirt and Van.
Most popular cities:
Least popular cities:
How much land?
Today, 89.358.949 m2 of floor area in Turkey belong to individuals of foreign nationality. The cities which contain the largest areas belonging to foreigners are as following: