TURKEY REAL ESTATE MARKET GROWTH ATTRACTS M E INVESTORS

A wave of investors from the Gulf region have entered the Turkish property market following recent changes to the law that have enabled them to do so. Earlier this year, the country’s government removed the rule of reciprocity, which previously restricted the number of overseas buyers who could enter the country. The old regulations meant that only foreigners from countries where Turkish nationals were also allowed to own real estate could buy property in Turkey. Currently 60% of foreign real estate investment comes from the Middle East and is expected to grow. Turkey’s real estate market was recently showcased at MIPIM (12-15 March) in Cannes as the country of honour.

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