The temperature of Turkey's property market was turned up this week as the Turkish government passed a draft bill that allows more foreigners to invest in the country's real estate. The law, which also increases the amount of real estate a foreigner can own, is expected to prompt a gold rush of buyers from the Middle East and EU, with some agents predicting that investment will double to $5 billion each year.
Turkish property prices increased by 0.95 per cent in March, according to REIDIN GYODER home price index.
Do you know Tapu? If you're planning to invest in Turkish property, Colordarcy says that you should. Speaking to Property Shorooms, the investment company advises investors to become familiar with Turkey's title deed system, which is not automatically transferred to a new owner when a property is sold.
Kuwaiti investors are entering the Gulf and "surging" into Turkey's property market, announced a Turkish government official this week.
The year is likely to see Istanbul undergo stronger capital and rental growth than London, according to a property investment company.
The year is likely to see Istanbul undergo stronger capital and rental growth than London, according to a property investment company.
With the property market in Turkey proving popular with overseas buyers and investors, experts are advising would be buyers to check out insurance and building guarantees as it is a part of the world that can be affected by earthquakes.
If you had to name the biggest themes that could shape the industry this year, most of us would probably name the Eurozone crisis, the upcoming elections in France or Greece or the emergence of the US housing market from its record slump.
The Turkish property market currently stands on the edge of the biggest change since the Turkish government allowed foreign buyers, with some restrictions, to enter the market in 2002.
While investor appetite rose dramatically towards the end of 2011, the level of distressed properties* coming to the market is set to keep on rising globally, according to RICS.
Please enter your Email address and we will send you more information: