Monday, April 14, 2008

Foreigners Buying in Turkey

BRITONS are doing it all over Didim, but the Germans prefer to do it Antalya. Buying homes that is!

Latest figures released from the Land Registry General Directorate reveal that 73,000 foreigners own 38.42 million square meters of real estate in Turkey.

Muğla, where Bodrum is located, leads the list of most property owned by non-Turkish individuals. Antalya comes second with 3.81 million square meters, while Aydın third with roughly 3 million square meters of foreign-owned property.

This demand is not fragmented, however, as nationals of other countries tend to buy property in the same locale. For example, Germans primarily purchase property in Antalya, whereas Britons favor Muğla.

In terms of the number of foreigners owning real estate, Antalya again tops the list with 26,031 persons, followed by Muğla (12,865), İstanbul (8,830), Aydın (7,415), Bursa (5,241) and İzmir (4,145).

Foreign interests do not own even a single piece of land in the cities of Ağrı, Bitlis, Hakkari, Muş, Siirt, Şanlıurfa, Şırnak, Ardahan and Iğdır. Gümüşhane and Van only have one non-Turk each who owns property, an Uzbek and a Brit, respectively.

Land owned by Germans in Antalya amounts to 1.25 million square meters; 6,324 Germans own 4,890 parcels of real estate in the city.

Britons own 777,786 square meters of land in Antalya, followed by the Dutch (351,953 square meters) and the Danish (339,874 square meters).

Muğla has 12,865 foreign property owners, 10,039 of which are Britons. The amount of land owned by Britons totals 2.66 million square meters, according to the Land Registry, followed by German, Dutch, Irish and US citizens.

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