09 January 2016 Investment

Buy real estate in Turkey for Foreigners is expected to reach $ 10 billion this year.‎

Specialists in the real estate sector said that Turkey aims to double the value of properties sold to foreigners for up to ten billion dollars, this year, at a time that is valued at five billion dollars last year.

Ali Noah Ihsanoglu, Real estate specialist, pointed out that 2016 will witness a major shift in selling real estate, which is continued to raise significantly over the past years sales, thanks to the new housing projects that many of which is targeting the middle and low-income class. Noah Ihsanoglu mentioned that the decline in the value of benefits for real estate sales contributed significantly to attract investment and buyers, stressing the need to maintain interest rates below one percent.

The head of the Investors and developers of Turkish real estate Association, Umar Farooq, said that foreigners bought about 22 to 23 thousand housing units in Turkey over the past year, and pointed out that Iraq and Saudi Arabia, Russia, United Arab Emirates, Britain, and Azerbaijan have been at the top of lists of countries that are most interested in Turkish real estate market.

Umar Farooq, is hoping to achieve this year $ 10 billion sales, saying that if the number of properties sold to foreigners arrive to 50-100 thousand unite, then we can discuss the phenomenon of foreign desire of Turkish real estate more seriously.

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