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Arabs flocked to housing in Turkey – Economics & Business Channel
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Arabs flocked to housing in Turkey

Association of Real Estate Investment Trusts (GYODER) has released the  3rd quarter report of 2015 Real Estate Sector in Turkey. The report examines the production figures within the sector, statistics to the sectoral mobility and other data figures.

According to data in the report of GYODER; the total housing sales in 2014 were 1.165.381 pcs, this figure was 831.287 in the first nine months. In the first nine months period of the year 2015, 844.132 residential sales occurred. In the first half of 2015, the housing loan interest rate consisting of l percent moved the realty sector. According to this; the housing loans which were 125.3 billion in late December 2014 reached to 128 billion TL in August 2015 and the annual growth of loans was %19.

Whie the importance of foreign investment in Turkey being discussed recently, GYODER also shared the results of the research of “Foreign Housing Trends”.  According to the report in the first 9 months of 2015, the top ten countries who prefer Turkey are Saudi Arabia, the United Kingdom, Kuwait, Germany, Qatar, United States, Iraq, Russia, Azerbaijan and UAE.

According to the report UK ranks first in the report by total number of foreign investors who choose Turkey. While UK ranks first with 4.251 people, Iraq follows by 3.267, Russia with 1.980, Kuwait with 1.889, Saudi Arabia with 1.778, Germany with 1.080, Azerbaijan with 685, UAE with 243, USA with 238 and Qatar with 221 people.

The report shows the top ten cities preferred by foreigners as well. According to most purchases made by foreigners Istanbul ranks first, followed by Antalya, Muğla, Aydın, Yalova, Bursa, Sakarya, Ankara, Kocaeli and Bilecik.