The demographic and economic profile of Turkey helps those who wish to set up business and make a property investment in Turkey consider the country as one of the top choices. For this reason, every year more and more foreign investors demand to invest in the property market of Turkey.
Real estate industry has accounted nearly 5 percent of total GDP in Turkey for the last ten years. Direct foreign investment (FDI) rate increased to USD 16,5 billion in 2015. Real estate and construction industries shared USD 4,1 billion of total FDI in 2015. According to the Knight Frank Global House Price Index, Turkey ranked first among 55 countries in terms of annual property price growth index; and has become the top-performing real estate market surpassing countries like New Zealand, Sweden, and Australia.
The total number of houses sold in the property market of Turkey reached 1,289 million units in 2015. One of the significant reasons why this number has increased is the abolishment of the reciprocity law and increasing number of property sales to foreigners. Istanbul has become the first choice of foreign investors with 7,493 sales in 2015 followed by Antalya with 6,072 sales, Bursa with 1,501 sales, and Yalova with 1,425 sales.