The figure includes an increase in private residential investors from the Middle East, with significant interest in Turkey’s second-home holiday market, according to property consultancy, CBRE.

International house sales increased by 22 pct in H1 in Turkey

The figure includes an increase in private residential investors from the Middle East, with significant interest in Turkey’s second-home holiday market, according to property consultancy, CBRE.


According to the Istanbul Culture and Tourism Directorate’s most recent data, almost 20% of the city’s annual seven million-plus visitors are Arab tourists; nearly double the market share recorded in 2010.

Commenting on the figures, Diana Doğan, head of research at CBRE Turkey, said: “In the second-home holiday market, there has been a significant increase in private investors in the residential sector from the Middle East with activity firmly focused in the country’s northwest, particularly the Marmara Sea and Black Sea regions, as well as Istanbul, Bursa, and Yalova.

“At the corporate investment level, this demand has in turn created a yet-untapped potential opportunity to develop homes specifically tailored to the Arab market. The Turkish banking sector has the most active interest with Arab financial institutions looking to gain a foothold or expand their presence in Turkey’s lucrative banking industry,” she added.

The strong performance of Turkey’s real estate market in the Gulf is reflected by the country’s participation in next month’s Cityscape Global 2015. The Dubai-based property event, which will take place from 8-10 September, has attracted more than 50 Turkish exhibitors.

Wouter Molman, director of Cityscape Group, said that Turkey is becoming an increasingly important market for the series of property events.

“Turkish participation has grown by 50% this year, and there are no signs of it slowing down,” he explained. “In 2014, Gulf investors spent $4.3bn in Turkish real estate, reaching a total investment influx of $16.29bn over the past six years.”

Source:constructionweekonline.com