Overseas property purchases in Istanbul saw a rise of 127% from January to April and official figures show that foreign buyers across the whole of Turkey rose to 42% year on year.
These figures show that in the first four months, those properties purchased in Turkey increased by 42% year on year, whilst the figure has more than doubled in Istanbul.
From January to April foreign investors bought US$1.21 billion worth of properties in Turkey which is an increase of US$367 million more than the previous year, whilst purchases in Istanbul rose by 127.2% annually.
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For the whole of 2013, those purchases made by foreigners accounted for US$3billion, which is an increase of 15% from 2012 which was the year when they laws were changed so that purchasing property in Turkey was a lot more accessible, many of the investors came from the Middle East.