Imtilak Properties

The Turkish Statistics Agency announced that there is an increase in sales during the month of April 2017, and that the real estate markets are currently experiencing a rise, in addition to the increasing interest by foreign investors.

According to the statistics, sales rose by 2.7 percent to 1.264, leading to greater interest in foreign investors after the stability of foreign exchange rates in Turkey.

The real estate experts confirm that the recent government incentives for foreign investors have clearly increased their interest in Turkish real estate, adding that there is a great deal of urgency in particular by Gulf investors after the recent legal amendments made by the Turkish government to exempt Foreigners from VAT or KDV when buying a property in Turkey.

The experts also pointed out that the decision to grant Turkish citizenship to foreign investors has in turn accelerated the pace and interest of Iraqi investors in the Turkish real estate market.

Experts say that the increased interest in the Turkish market is not confined to the real estate sector, but there is a tendency to many sectors such as household appliances, furnishings and the like.

Moreover, there are expectations from real estate experts that the demand for real estate in Turkey by foreigners will increase even more during the tourism season, especially after the recent legal amendments made by the Turkish government on the exemption of foreigners from VAT charges during buying a property.

The contribution of foreign investors in the Turkish real estate market is expected to be about $ 10 billion in the coming period.