New law raises number of foreign house buyers

ANKARA - Anatolia News Agency

The reciprocity law that came into force nine months ago has boosted foreigners’ real estate purchases in Turkey, the official data shows. DAILY NEWS photo/ Hasan ALTINIŞIK

Foreigners from different countries have bought almost 11,000 properties across Turkey since the reciprocity law came into effect nine months ago, according to data from the Environment and Urban Planning Ministry.

The reciprocity law that allows foreigners to buy houses in Turkey has fostered an increase in real estate sales to foreigners. After the law was enacted, 11,008 foreigners have bought 10,687 pieces of real estate, 2,153 of them land sales and 8,174 of them houses.

Germans ranked first among foreign citizens purchasing real estate in Turkey, with 2,557 sales. The British ranked second with 1,302 sales, followed by Austrian citizens. Other countries that have showed interest in Turkey’s real estate sector are the United States, Saudi Arabia, Russia and Northern Cyprus.

Foreigners have preferred the southern province of Antalya up to now, including the period before the reciprocity law was enacted. Istanbul ranked second, followed by Muğla, Aydın and İzmir.