Foreigners has made 32.5 billion dollars real estate purchase since 2005.
Amount of the money that foreigners spent for real estate purchase since 2005 has reached 33 billion dollars. Turkey has amended the law on real estate sale to the foreigner during 2005-2012 period.
While taking the first step in order to ease real estate sale to foreigners within the scope of reciprocity principle, this condition has also been abolished in 2012. Thanks to these regulations, foreigners have spent 32.460 billion dollars for house, office, land and plantation since 2005. According to pressman Ahmet Kivanc, the amount of the money that foreigners have spent reached 94 billion Turkish Liras.
The highest rate of the number of real estate purchase belongs to 2014 (4.3 billion dollars). Real estate purchase rates, which decreased to 4.1 billion dollars in 2015, have risen again in the recent year and reached 4.5 billion dollars.
Russians Have Bought House During Crisis Too
According to the information gathered from General Directorate of Land Registers, Russians has the highest rate of real estate purchase in first 5 months of this year, although there is a political trouble between us. 12.543 houses have been sold in mentioned period and Russians have bought 635 of those houses. 137.000 real estate property have been sold in Turkey until now and English people take place on the top (36.478 houses). Russia follows England with 13.590 houses and then Germany comes (13.192 houses).
Foreigners Have Financed the Deficit at 7 %
Turkey’s total deficit has reached up to 457 billion dollars in 2005-2006. And foreigners have financed the deficit in this period at 7.1 % by buying real estate.