More Turkish Property Bought By Foreign Nationals

Those looking to invest in a Turkey property would be well advised to start making moves soon if the latest figures from the Turkish Statistical Institute are anything to go by.

The government-run body recently published statistics which showed that the average price for a Turkey property in June this year was 12.05 per cent higher than the same time the previous year. The month as a whole was good for the Turkish property market wih more than 1300 Turkey properties sold to foreign nationals that month. The majority – 600 homes or apartments – were sold in Istanbul. The city as a whole saw a 150 per cent increase in foreign domestic property investments. The next most popular region for foreign property investors was Antalya with 586.

But it wasn’t only during June that foreign property investments were up. The number of non-national purchases were strong for the entire first six months of the year. According to the figures sales had actually increased by 60 per cent wit 8,507 homes and apartments sold to UK, German, Russian and Arab nationals.

Tourism Reaches Record Numbers

But it wasn’t only property prices that were up for the first half of 2014 – more tourists also visited the country according to the Turkey Ministry of Tourism and Culture. The increase resulted in a record tourism revenue figure of $8.9 billion from April to June this year. The sum was up 7.9 per cent on the same period last year and resulted in 10.9 million foreign visitors. The first for the first three months of the year was 4.35 visitors.

Analysts expect the total number of tourists to arrive in Turkey this year to peak at around 43 million. They are expected to generate around $36 billion for the country.

Turkish Air Traffic Taking Off

Turkish air traffic was also up this year. Again another record was broken in June when 16 million passengers passed through the country’s various airports. Ataturk Airport in Istanbul meanwhile can claim the title of having the highest number of landings in a day throughout Europe by recording 1,267 flights over a 24 hour period earlier this year. Turkish Airlines goes from strength to strength, having announced its 257th new destination this year.

The country’s Pegasus Airlines is also making a name for itself, especially in low cost air carrier circles. The company boasts four million passengers from January to March this year. It’s an increase of 25 per cent compared to the same period last year, making Pegasus Airlines now Europe’s fourth biggest in its sector.

The increase in tourist numbers and the capacity of the Turkish airlines to cope with more foreign visitors bodes well for those interested in investment property in Turkey.

Those interested in property for sale in Fethiye, Kalkan and other coastal resorts in Turkey, as well as the city of Istanbul, should contact the multi-lingual team at Oceanwide Properties where they can consult an extensive portfolio of properties.


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