Turkey’s Real Estate Market in High Demand
According to an analysis that was published by property-abroad.com, gulf investors are leading the race to Turkish real estate, with a huge part of the $1.26 billion invested in the sector coming from the region.
Foreign investors are continuing to invest in Turkey, according to an article released on property-abroad.com, which provides information on overseas real estate markets. Within the first six months of 2014, amount of purchases made by investors increased by %42. In the same time of the year, Turkey’s real estate market attracted an investment of approximately $1.26 billion (2.67 billion TL). Furthermore, the site property-abroad.com pointed out that Turkish real estate markets attracted almost one quarter of total foreign investment.
The investors contributing to this number were mostly from Gulf countries, who also contribute about five percent of Turkey’s annual tourism revenue.
Because property markets in Dubai are down and there is political issues in several Middle East countries, investors from Qatar, Saudi Arabia, Oman, Bahrain and Kuwait purchased property in urban and suburban areas.