Real estate investment in Turkey

Saudi Arabia at the helm in real estate investment in Turkey

Real estate investment in Turkey, Investors from Saudi Arabia held the top place from the Gulf Cooperation Council in real estate investments and held the 3^rd place among foreign investors.

The Association of Real Estate Investment Companies – GYODER – said that Iraqi investors held the 1^st place, Saudi investors came in 2^nd place while investors from Kuwait, Qatar, and Bahrain held the 4^th, 7^th and 10^th places respectively during the 1^st nine months of 2016.

It is worth mentioning that Saudi investors conducted 1,327 transactions and buying 564,000 sq. m of real estate property in the 1^st nine months of 2016. Despite the cloudy political and economic atmosphere in 2016, Arab investors completed the largest portion of real estate acquisition.

To facilitate and promote investments from the Gulf region, Cityscape Turkey is in the process of launching the Investment Host Program catering to the Gulf region. The program aims at establishing a link between interested investors and top real estate and development firms.

The program is designed to provide a platform for communication, rapport building and creating potential investment opportunities.

The program comes in at a critical stage where Turkey has suffered major unexpected shocks in the previous year. However, expertise confirms that the real estate sector has remained solid in the face of uncertainty.

The International Monetary Fund - IMF - mentioned lately that the economic growth in Turkey is characterized by its flexibility. According to 3^rd quarter of 2016 report by GYODER, citizens of the Gulf Cooperation Council have invested heavily in real estate properties in Turkey accounting for 25% of all properties bought by foreigners.

Foreign investors buy 4,594,290 sq. m of property in the 1^st nine months of 2016

The above statistics come in comparison to 4,094,737 sq. m of property bought during the same period of 2015. Gulf region investors had the largest share of these purchases in 2016.

The Turkish real estate sector continues to lure huge levels of direct foreign investments. That was evident as Istanbul successfully sold 5,811 properties to the highest number of foreign buyers, followed by Antalya at 4,352 and Bursa at 1,318 according to the Official Turkish Statistical Institute.

The chairman of Cityscape Group said that investors from the Gulf region are aware that real estate investments rely basically on long-term vision rather than short-term instantaneous results. He further added that the real estate market goes through periodic cycles and where there are opportunities, there are profits to be made. Turkey is full of real estate opportunities.

This statement was made ahead of the Cityscape conference which is scheduled to take place between 23^rd – 25^th of March at the Istanbul Convention Center.

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