Minister of Environment and Urban Planning Erdogan Bayraktar said that the country's budget was supplemented by €3.7 billion ($5 billion) through the sale of real estate to foreign investors, reports ee24.com quoting Turkish media.
The Turkish authorities in their attempts to bring into the country as many wealthy foreigners, willing to invest in real estate in Turkey, as possible, will inevitably face two difficult problems: the patriotism and financial interests. Despite the popular notion that attracting rich foreigners has a positive effect on the economy of Turkey, allegations of betrayal of state interests are often heard.
Everyone agrees on the fact that: "Foreign buyers pay all the costs associated with real estate, which they bought. Accordingly, the sale of real estate to wealthy foreigners increases the welfare of the area as a whole, and also creates a net inflow of capital, which is especially important in the face of persistent current account deficits."
Against the background of these disputes foreigners continue to buy real estate in coastal areas of Turkey: Alanya, Fethiye, Didim, Bodrum, Kusadasi.