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Turkey Real Estate Market has Seen the Biggest Activity

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Turkish Real Estate biggest activity
Nova Property

Foreign purchases have quadrupled the sum of 2011 by increasing exactly to 1.1 billion dollars in May.

Turkish Real Estate biggest activity

It has been stated that in the backstage of this activity, there are two big European investors who purchased the expectation of the reciprocity law.

Foreigners made their mark in May in the Real Estate sector. The total purchases which were only 114 million dollars in between January – April, has increased to 1 billion 114 million dollars in May by showing an incredible escalation. Purchases are expected to continue in the coming months.

According to the Central Bank’s Balance of Payments report, it is estimated that behind this foreign purchases there are companies of Austria origin.

Heretofore, the largest foreign investment on annual basis in Turkey was in 2008 by 337 million dollars. Foreigners had made purchases of 209 million dollars in 2009, 314 million dollars in 2010 and, 310 million dollars during last year.