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Foreigners are buying fewer homes in Turkey

Oct 05, 2017 | 0 Comment(s)

Trend: house prices up 1.63% y-o-y in Q2 2017

Analysis: Foreigners are buying fewer homes in Turkey, despite generous incentives offered to foreign buyers and to non-resident Turks. The Turkish government has exempted foreign buyers from paying 18% value added tax (VAT) when investing in real estate. 
In the first quarter of 2017, foreigners bought 97,579 properties, 8.1% less than in the same period of 2016, according to the Turkish Statistical Institute.  
Rents, rental yields: yields are low in Istanbul at 3.62%
Istanbul apartment costs are low at around 2,525 per sq. m.
Turkey: city centre apartment, buying price, monthly rent (120 sq.m.) 
   Buying price  Rent per month  Yield
 Istanbul  €304,200  €918  3.62%


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