Posted by meb at April 7th, 2008

Turkey is a focus of attraction for foreign property-seeking interests from all around the world, but the highest demand comes from Europeans, in particular, from Germans and Britons.

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.According to figures released by the Land Registry General Directorate, 73,000 foreigners own 38.42 million square meters of real estate in Turkey. Muğla leads the list of most property owned by non-Turkish individuals. Antalya comes second with 3.81 million square meters, and Aydın third with roughly 3 million square meters of foreign-owned property.

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. Two Germans pay real estate taxes to the Bayburt administration, while Adıyaman, apart from that owned by a German and a US citizen, has no foreign-owned property.

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.

In İstanbul 3,807 Greeks bought 3,804 pieces of property with a total size of 509,342 square meters. A total of 8,830 pieces of real estate are owned by foreigners in Turkey’s biggest city. Greeks also hold the lead in foreign-owned real estate in Bursa. Of Bursa’s 5,241 foreigners 4,819 are Greeks, and they own 1.16 million square meters of property.

source: Today’s Zaman

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