Because of Syria and Iraq’s forced migration and attention of Arab investors, real estate sales to foreigners have broken a record in Turkey. According to the report, foreigners bought 18 thousand 959 houses in Turkey in 2014.

Foreigners bought 19 thousand houses!

Because of Syria and Iraq‘s forced migration and attention of Arab investors, real estate sales to foreigners have broken a record in Turkey. According to report of Building Information Center(YEM), property sales to foreigners rose from $3 billion 49 million to $4 billion 320 million increasingly by 41,6 percent in 2014. Furthermore, according to the report, construction expenses grew by 14,4 percent in 2014, although decrease in economy and private sector provided this growth. While total construction expenses were rising to TL162.3 billion in 2014, employment increased by 4,3 percent. Urban transformation and house construction activities have been shown as most important reasons in construction expenses raise. According to the report, foreigners bought 18 thousand 959 houses in Turkey in 2014.

Damla DOGAN/ damladogan@emlakcoulisse.com

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