Many investors in the Turkish property market prefer coastal areas in established holiday resorts, it has been claimed.
According to Land Registry Directorate official figures, Nearly 86,000 foreigners from 85 countries purchased property in Turkey, primarily in the coastal areas of Antalya, Mugla, Aydin and Istanbul. More than 36,000 foreigners own property in Antalya. This is followed by Mugla, where 14,700 foreign nationals have property; Aydin, with 10,216 foreigners owning property; and Istanbul, where the number of foreigners who purchased property is 9,481. The report also notes that in the last year, 10,386 foreigners acquired a total of 12,121,220 square meters of land in Turkey.
The report added that buyers come from a variety of nationalities, with the most diverse group in Istanbul, where foreigners from 67 countries acquired property. A similar diversity of countries is seen in Antalya, where foreigners from countries as far away as Guatemala and Brazil purchased property. According to the report, the British own 14,862 condominiums in Turkey, while the Germans follow with 11,589. The Germans own property throughout Turkey; however their first choice is Antalya.
Property experts believe that some buyers were starting to look away from the highly developed tourist spots and consider purchasing in nearby villages. This offered several benefits to foreign investors, such as cheaper property prices and easy access to the main resorts.
