Home    6 Percent of New Houses to Foreigners

The price increase in new houses was around 0,46% and 6 Percent of these new houses were sold to Foreigners in April 2017.

According to the results of ‘’REIDIN-GYODER New Housing Price Index’’ prepared with the support of Turkiye Is Bankası Inc. in April, the index increased by 0.46% compared to the previous month and increased by 2.71% compared to the same period of last year. Compered to the initial period of the index January 2010, increased by 74.50%.

There were different increases for each side of Istanbul. The index for branded residential projects in Asian side and European side of Istanbul increased by 0.50% and 0.23% respectively.

new-housing-price-index

Also there were different increases depending on the type of housing. The index for 1+1, 2+1, 3+1, 4+1 housing type increased by 0.40%, 0.51%, 0.57% and 0.33% respectively.

In houses which has 51-75 square meters increased by 0.35%, 76-100 square meters increased by 0,65%, 101-125 square meters increased by 0,34%, 126-150 square meters increased by 0,52, 151-over 0,27%.

6 Percent of New Houses to Foreigners

In April, 6 percent of sales in well-branded residential projects were sold to foreign investors (The average of the last 6 months is 7%). Foreign investors mainly preferred 2 + 1 types of houses.

Payment Requirement With Foreign Currency

Foreigners were exempted from VAT on housing purchases. This implementation started by the April 2017. Foreigners can buy houses in Turkey without paying V.A.T with the new regulation that also expatriate can buy.

When the payment types of customers buy houses from branded projects are examined; 18% were purchased in cash, 35% with bank credit, 47% with indenture.

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