Investors who have yet to take the plunge lose out to those from other countries, if prices rise as predicted in double figures again this year.
(PRWEB UK) 5 April 2013
Turkey looks set to continue its charm offensive to foreign investors according to real estate investment company Colordarcy.
The firm highlights that a large number of investors from Gulf States took advantage with new statistics released by the Ministry of Environment and Urban Planning.
A recent article by Hurriyet Daily News (Foreign house buyers to receive longer residence permit in Turkey, 14th March 2013) reveals that the Turkish government is hoping to make it even easier for foreigners by developing a scheme which will ease visa and residence permit restrictions for real estate investors.
The scheme was announced at the world’s largest real estate fair, MIPIM which took place on March 12th, yet, according to Colordarcy, there are investors from a number of countries who don’t need any encouragement when it comes to investing in Turkish real estate.
It may or may not come as a surprise to learn that German citizens invest in more property in Turkey than any other nation.
Turkey’s Ministry of Environment and Urban Planning have revealed that 10,687 pieces of real estate have been sold to foreigners since the change in the law allowing more foreigners to invest. German citizens bought 1,294 properties.
The UK, which often misses out to Germany in sport, also comes some distance behind as the second biggest investor in Turkey’s real estate with 1067 properties.
Perhaps the biggest change in patterns of investment comes from foreign purchases in Turkish property coming from Gulf states. Investors from Kuwait, Saudi Arabia and the United Arab Emirates combined invested in 358 properties making them the third largest investors in property in Turkey
Loxley McKenzie, Managing Director of Colordarcy commented, "Property prices are still reasonable in Turkey by Western European standards. Apartments in Istanbul’s suburbs can still be purchased for less than £40,000 which could mean that investors who have yet to take the plunge lose out to those from other countries, if prices rise as predicted in double figures again this year.
Notes to the editor:
Colordarcy is a leading property investment company that specialises in finding positive cash flow investment properties worldwide. Colordarcy investment property portfolio includes some of the best properties for sale in Brazil, Florida, Turkey and the United Kingdom.
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