43.4% growth - such an outcome was presented by Turkish Statistical Institute on the results of January-April 2015, in quantitative terms - it's about 20,000 transactions up to May. It approves the March trend.
General trends
Peak of sales took place in April: the number of sales increased by 17.7% compared to the same period last year, reaching 5194 against 6115 in 2014.
Antalya and Istanbul (31% of the total share of property sold) are still the most attractive cities in terms of foreign investment, followed by Bursa, Yalova and Aydin.
Almost half of the total volume of transactions has been made in the segment of new buildings, reaching a record of 52,958 transactions across the country, which is 40.1% more than last year.
Rising real estate prices in Turkey due to the increase of demand from the Persian Gulf countries. Besides domestic demand is increasing on the background of improved economic conditions and low mortgage rates.
Market experts believe that the rate of sale of real estate to foreign buyers will rise after the elections, and after the implementation of major construction projects that are now in process on the territory of the Marmara Region and Istanbul, total volume of transactions will reach 2000 per month.
Rise on Istanbul
Istanbul has the potential to become the fastest growing region in terms of investment in real estate. According to the Turkish Statistical Institute (TUIK), property prices in Istanbul are growing at 20% a year. In particular, in the 43% of growth, which we discussed above, the central part belongs to Istanbul - 23 thousand transactions, almost 10 thousand more than in Ankara. 20.3% of the total number of buildings sold in the country were sold in Istanbul.
In Istanbul, as well as in Turkey in general, the main customer flow comes from the Persian Gulf.
According to the Turkish Ministry of Culture and Tourism, in 2014 Istanbul has become the most popular Google location searche, as consequence - 9% increase in the number of international tourists.
According to the materials of propertyshowrooms.com and Dailysabah
Photocredit shutterstock.com
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