British Buyers Losing Dominance in Turkish Property Market

Colordarcy - 5 - Emporium - 11

Emporium Development Pool

British buyers are no longer the dominant force in the Turkish property market, contrary to official data. What am I on about I hear you ask, well, let me explain.

 

According to data released by the Turkish directorate of Land Registry British buyers are the dominant international owners of property in Turkey. Of a total 123,000 properties owned by foreigners, Brits owning 35,656 gives them a dominant 29% ownership. Assertively beating second placed Germans who own 28,306 (23%) and Greeks with 10,859 (9%).

But this data is all-time data, since foreigners were allowed to buy in 2002. Recent reports from Turkish agents have suggested more buyers coming from Russia and other parts of Europe, with Brits slowing in most areas. A closer look at the data does indeed reveal that British domination is slipping.

If we look at the data from the directorate of Land Registry from July last year we can see that 104,000 foreigners owned property in Turkey, 32,000 of them British. That is almost 31%, so the overall data shows a slight dip. However, if you look at the last year alone, 19,000 foreigners bought (123,000-104,000), and 3,656 of them were British. This means that British buyers made up 19.2% of the total during this time, well off their 29% domination at present and the 30% plus of last year.

Join The Conversation - Be The First To Comment

Categories: Property Invest / Turkey Property

Tags:

Like What You Read? Stay In Touch

Follow Colordarcy on Twitter or Facebook