Foreign buyers returned to the Turkish property market

05.04.2011 08:03
Articles about real estate | Foreign buyers returned to the Turkish property market In sum, for the period from 2006 to 2010 the market has attracted some $ 13 billion in foreign direct investment.

Real estate sector in Turkey has recovered from the global financial meltdown and became even more interesting to foreign investors since 2010, according to H? Rriyet Daily News, referring to the Association of real estate investing GYODER. Foreign direct investment in the construction sector last year increased to $ 2.5 billion

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This is facilitated by economic stability, growth in consumer confidence and low interest rates on mortgages, experts say.

The total volume of mortgage loans in Turkey in 2010 amounted to 60 billion Turkish liras (about $ 40 billion). By the end of March 2011 this figure rose to 64 billion Turkish liras (about $ 42 billion). Such a strengthening housing market, according to experts, should increase the number of homeowners, and therefore potential customers for developers. Experts advise foreign investors to pay special attention to construction projects for earthquake-resistant housing.

In order to make housing more attractive, experts suggest the Turkish government to ease rules for buying real estate in the country to foreigners.
Content tags: Overseas property
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