The Big Turnout in Istanbul Real Estate Sector From Investors
Recent statistics indicate that demand for real estate has increased in Turkey, especially after the offers by real estate and construction companies in several Turkish cities, most notably in Istanbul, Ankara and Izmir.
The government's recent incentives for foreign ownership have greatly influenced foreigners for the Turkish real estate market, with many amendments that facilitate foreign ownership as well as a VAT exemption.
Despite the rising of prices due to high demand for real estate, demand continues to increase. Although apartment prices have risen by more than 13 percent and purchasing properties is continuing, statistics show that April has witnessed sales by 7.6 percent, reaching 114,466 apartments.
Demand for real estate has increased, through reservation also through real estate loans that reached 29.6 percent. The number of sold apartments reached 43 thousand and 334 apartments. Istanbul took largest share through the sale of 20 thousand and 66 apartments, and Ankara came second through the sale of 13 thousand and 364 apartments, followed by Izmir through the sale of 7 thousand and 170 apartments.
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