Global Property
Foreigners are buying fewer homes in Turkey
en.ppostnews.com : Trend: house prices up 1.63% y-o-y in Q2 2017
Analysis: Foreigners are buying fewer homes in Turkey, despite generous incentives offered to foreign buyers and to non-resident Turks. The Turkish government has exempted foreign buyers from paying 18% value added tax (VAT) when investing in real estate.
In the first quarter of 2017, foreigners bought 97,579 properties, 8.1% less than in the same period of 2016, according to the Turkish Statistical Institute.
Rents, rental yields: yields are low in Istanbul at 3.62%
Istanbul apartment costs are low at around 2,525 per sq. m.
| Turkey: city centre apartment, buying price, monthly rent (120 sq.m.) | |||
| Buying price | Rent per month | Yield | |
| Istanbul | €304,200 | €918 | 3.62% |
