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 Istanbul Property News

British, German and Greeks are the top foreign buyers of property in Turkey, according to official data from the Land Registry Directorate’s Foreigner Affairs Unit.

Foreign buyers from 89 countries have purchased approximately 111,200 properties across Turkey. British citizens are the most prolific buyers with 35,249 British people owning 24,848 properties, followed by Germany and Greece.

The figures also show that foreigners have bought real estate in 76 of Turkey’s 81 provinces with a total of 12,190 properties in Istanbul being owned by foreign nationals.

The research also indicates that buyers are searching for new build properties which have been growing in popularity amongst overseas and second home owners showing a 1.2% increase in new build buyers from June to July, 7.29% higher than the same period last year. There are also vast rental opportunities at large across the country seeing rental prices increase by 0.36%.

Meanwhile the Istanbul Development Agency has released plans to boost local and foreign investment in Istanbul by offering help for projects in the form of guidance and funds.

The agency has stated that they plan to spend between 2.25 million to 4.5 million Turkish Liras every year to give help to foreign investors who are looking to establish a business in Istanbul through its Investment Support Office (ISO).

The ISO help with assisting local and foreign businesses in establishing themselves in Turkey. The ISO can help companies with all the information about procedures and documents required by legislation in order to set up a business in Turkey. This provides great assistance for people who are looking to either invest in Turkey or set up a business in Turkey.

The agency’s Secretary-General Abdulmecit Karatas said: “We try to assist investors up to where our legal limits allow us to.” The agency experts also conduct research into the market and analyse business opportunities in the sectors that the investors are looking to invest in.

If you would like any more information on the excellent investment opportunities we have in Istanbul, please do not hesitate to contact us.