Foreigners eye purchasing real estate in Turkey

Following the legislation of Law 4916, which facilitates the purchase of real estate by foreigners as from July 2003, the number of real estates purchased by foreigners in Turkey has increased significantly.

Prior to the new law foreigners had bought a total of 37,578 real estate properties in Turkey, while 4,105 have been purchased by foreigners in the past ten months alone.

Greeks rank first among nations who have purchased real estate in Turkey with 12,557, followed by Germans with 10,827, Syrians with 4,589, the British with 4,101 and the Dutch with 1,474.

Some four out of every ten foreigners who purchase real estate in Turkey prefer Istanbul and Antalya, while Americans prefer Ankara, Greeks Izmir and Syrians Hatay.