Foreigner Interest in Property Projects in 2016

Branded property projects were also among the foreign investors that invested in Turkey in 2016.

How much of the sales realized within property projects were made with foreign investors? Which property types showed foreign investors’ interest in real estate investment? Here is the analysis of first-hand apartments foreigners who invested in real estate in Turkey preferred during the 11-month period until December.

According to the results of the REIDIN-GYODER New Housing Price Index prepared with the support of Türkiye İş Bankası, 34 percent of sales realized under branded housing projects in the first month of this year were made to foreign investors. This figure decreased to 14 percent in November 2016. It was observed that the sale of properties to foreign nationals, which fell in a noticeably in July during the year, rose again in August.

The preference weights of the new project properties purchased by foreign investors were also analyzed according to the residential type characteristics in the REIDIN-GYODER New Housing Price Index. According to the index, during the year 2016, foreign investors have purchased 3 + 1 types in January, February, March, May and June. While buying 1 + 1 residential types in April, August, September, October and November, only 2 + 1 apartments were preferred in July.

According to Turkish Statistical Institute (TURKSTAT) Housing Sales Statistics report for November 2016, foreign residential sales decreased by 16.3 percent compared to the same month of the previous year and were announced as 1.773. In November 2016, Istanbul took the lead with 596 property sales>>blogger: Life Style