Number of overseas property buyers in Turkey doubles

New figures released by the Turkish Ministry of Environment and Urban Planning reveal that the number of overseas buyers of Turkish property more than doubled in the first half of this year.

Housing in Istanbul

Housing in Istanbul – Source:

The ministry’s figures show that 7,145 property purchases were made by foreign buyers in the first six months of 2013 – compared to just 3,107 in the first half of 2012.

What’s more, the e number of property-acquiring nationalities has also risen, with people from 88 different countries buying a property in the country this year, compared to 55 at the halfway point of last year.

Istanbul Property Prices Rising Significantly >>

Russians lead the way when it comes to the number of Turkish property purchases made by foreigners, with 1,388, followed by Brits (720) and Germans (653).

Buyers from Gulf countries, who were barred from purchasing properties in Turkey until last year because of the reciprocity principle in the country’s property law, were responsible for more than a 1,000 purchases in the first six months of this year.