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Why An Apartment In Turkey For Sale Is Hot Property!
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Are you looking for apartments for sale in Turkey? Join the club! Many buyers are drawn to Turkey, specifically the world city of Istanbul when it comes to purchasing residential properties. In fact, the number of homes sold in Turkey rose in September 2017, setting the course for the country to beat the sales record of 1.3 million properties sold in 2016.
Turkey's Growing Real Estate Market
An apartment in Turkey is in huge demand nowadays. TurkStat has estimated that more than 140 thousand homes were sold in September this year. This makes a Y-O-Y increase of 28.8 percent. The figure is 16.7% higher than over the preceding month. It is a buyer's market this year with many foreigners and expats rushing to purchase apartment in Turkey for sale. Consider that the number of foreigners buying homes in Turkey rose by 75 percent this September.
In the previous year, 18,819 properties were sold to expats. But the first 9 months of 2017 have seen as many as 15, 241 properties sold. This includes a year on year 147 percent increase in Istanbul property sales.
In September, around 1/3rd of the 2236 properties sold to foreigners were from the east meets west city of Istanbul. After Istanbul, Antalya was in second place. As many as 520 homes were snapped up by foreigners in this Turkish city.
Growing Number of Foreign Buyers
If you want to buy an apartment in Turkey for sale, you are in good company. The top buyers of properties in Turkey hail from Iran, Saudi Arabia, Kuwait, Russia and the UK. The figures show a massive trend of Middle Eastern nationals investing in Turkey. EU nationals are also choosing to call Turkey their home.
The figures mean a new record could be in the offing for Turkish real estate. It was in 2016 that the Turkish house sales hit an all time high, with sales reaching 1.3 million. The number of residential properties sold were more than one million units in the first nine months. Experts are even predicting 2017 could see the sale of 1.5-2 million homes.
With property purchases over one million USD resulting in citizenship, and automatic Turkish residence for first home buyers, plus a hefty VAT discount, the numbers are a cause for celebration among home buyers and investors. European citizens also target Turkey for second homes and investments. So far, 140,832 individuals have bought homes in Turkey and hail from the EU. One third of these purchases were made post 2012, when buying laws were relaxed. With UK investors being the top of the line, other EU nationals who also invest in Turkey include Germans and Dutch. EU buyers are steadily rising in numbers. Turkey sure is a hot property destination for the global realty investors and international home buyers.
I am real estate consultant in Turkey, Istanbul at www.investinistanbulrealestate.com , Our range of residential and commercial real estate investment services include villas sale, apartment sale, homes sale in Istanbul, and interior design services Internationally. Get reliable property and houses for sale in Turkey, Istanbul.
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