British Buyers Dominating Turkish Property Sales
21 November 2011
According to the latest data from the Turkish General Directorate of Land Registry, British buyers are dominating international sales of Turkish property. The data shows that 35,656 Brits have now purchased Turkey property, which is a dominant 29% of the total 123,000 foreign purchases on record. Germans are the second biggest buyer-nationality with 28,306 purchases giving them 23%, and Greeks are in third with 10,859 purchases giving them 9%.
A lot has been written in recent months about the influx of Russian and Arab buyers into Turkey, with several reports stating that Russians were now the dominant buyers in some regions. However, this data now released by the Turkish General Directorate of Land Registry is very similar to data it released in June last year. It showed that Brits were the dominant buyers with 32,000 owners, followed by Germans and Greeks.
But that is not to say that the reports are false or even incorrect. The figures being discussed here are the all time totals. Last year foreigners had purchased 104,000 properties in Turkey in total, and this has increased to 123,000 this year, a growth of 19,000 since last year which is 18%. Meanwhile British buyers increased by 3,656 since last year, a growth of 11%. This is still a good growth but much smaller than the overall growth in foreign buyers.
Unfortunately, what little data we get from these Turkish bodies comes in press releases, very few of them publish full data in English, or even make it available for translation online. It will be interesting to watch the data over the next few years and see if British owners continue to grow so strongly or if they are taken over by other nationalities.