Turkish real estate market grows 1.5 percent in 2012

  Date posted: 4th of December 2014

According to data released by the Association of Real Estate Investment Companies (GYODER), the Turkish property market is set to grow a total of 1.5 percent on a whole as 2012 draws to an end.

Isik Gokkaya, the head of GYODER said that there are still around 800,000 houses in Turkey that are currently in the buying process but have yet to be finalised.

According to Gokkaya, the idyllic location of Turkey, the opportunities for investment, and the financial gains to be had in Turkey are the main factors which persuades investors to invest.

Gokkaya said: “The real estate sales to foreigners equaled 557 million Turkish Liras within the first quarter of the year. With the reciprocity law, foreign capital inflow is expected to reach 10 billion.”

The year 2013 looks set to be a new record breaking year in Turkey property sales as the new reciprocity laws making it easier to own a home in Turkey, coupled with the ever improving Turkish economy make the prospect of owning a home in Turkey a luxurious one for many foreign investors.