The stability in Turkey’s economy and high growth rates in recent years have
attracted foreign interest in Turkey’s real estate market.
Foreign
investors choose Turkey as one of the best countries to invest in because of its
potential to gain value. Foreigners invested $6.2 billion within the last year
in real estate in Turkey, and around $3.1 billion of this was spent on houses
and summer houses.
Speaking to Today’s Zaman, Yatırım Group General Manager
Yusuf Gülpınar said European companies in particular are focused on real estate
investments in Turkey. “European investment firms, mainly from Austria, England,
Holland and Belgium, have made huge real estate purchases,” he
said.
There were 20 big deals on real estate in the last year alone. One
of the world’s largest investment funds, the US-based NCH New Europe Property,
makes it procurements through Atakule Real Estate Investment Partnership (GYO),
Alarko GYO and Yapı Kredi Koray GYO. Swiss-based East Capital Asset Management
works with Vakıf GYO, and Universal Overseas Management is the largest share
owner of Nurol GYO in the stock market.
Foreign companies invest in
promising fields such as business centers, residences and malls, which yield
high rent returns in cities like İstanbul, İzmir and Antalya, and country houses
on the Aegean and Mediterranean coasts. Real estate specialist Serkan Demir said
foreigners spent $6 billion last year on real estate and that this would
increase in coming years.
Other groups that have increased their number
of real estate investment are Kazakh and Arab investors, whose coffers have
grown due to increasing oil and gas prices.
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