According to press reports, GDP (gross domestic product) per capita is set to rise from less than USD 11,000 at present to more than USD 14,500 by 2016. Turkey is one of the eight growth markets in the world along with Brazil, China, India, Russia, Mexico
Turkey Europe’s second most attractive real estate market
According to press reports, GDP (gross domestic product) per capita is set to rise from less than USD 11,000 at present to more than USD 14,500 by 2016. Turkey is one of the eight growth markets in the world along with Brazil, China, India, Russia, Mexico, Indonesia and South Korea. These eight countries are estimated to produce nearly 46 per cent of the world economy by 2050. The last eight months saw some 2,000 units being sold to investors from the Gulf region.
A booming market with an ever growing need for housing, office and retail complexes, Turkey presents a multitude of opportunities for realty investors with a global perspective.
The country’s easing of legal regulations on real estate ownership by foreigners along with the granting of residency permits for foreign property buyers, has directed Gulf investors’ attention to the country; already a favorite vacation destination for hundreds of thousands of Arab tourists.
Qatari real estate developer to expand in Turkey
Qatar’s leading real estate developer, Barwa Group, has announced plans to invest in new projects in Turkey. The company, who partnered with the local company Sinpas in 2011 to build the Ottomare Suites seaside residences on Istanbul’s Zeytinburnu coast, has now allocated USD 500 million to invest in real estate projects in a number of countries including Turkey.
Germans rank first in Turkey realty purchases
Of all foreign property investors, German nationals have acquired the most real estate in Turkey since property laws were relaxed last August, according to data from the Ministry of Environment and Urban Planning.
A total of 11,008 foreign nationals bought 10,687 immovables, 2,513 parcels of land and 8,174 housing units in Turkey over the past nine months with Germans in the lead with a total of 2,557 acquisitions. The British followed with 1,302 purchases, while Austrians bought a total of 352 properties in Turkey.
The Independent: Turkey, a rising star
With a growing economy and a bright outlook for the new year, Turkey is the country of opportunities, especially for real foreign estate investors, according to the British daily The Independent.
Emaar launches second Istanbul project
Emaar Properties, the developer behind Dubai’s Burj Khalifa, has announced that its Turkish subsidiary has launched a new urban project in Istanbul at this year’s Cityscape Global real estate fair held in Dubai.
Nurullah KIRMACI / emlakcoulisse.com
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