Arab buyers increase in Istanbul property market

Arab investors are getting more and more interested in buying property in Istanbul due to the political unrest in the Middle East and North Africa pushing Arab’s towards Turkey.

A general manager of Sotheby’s Turkey, Arman Ozyer, said: “In recent years, Arab investors started monitoring the Turkish market, but now this has accelerated.”

Ozyer said that rich Arabs generally can pay between $2 million to $30 million for luxury houses in prime locations in Istanbul, whereas remaining Arabs look to pay around $250,000 for residence projects in central Istanbul.

According to Ozyer, cultural similarities between Turkey and Arab countries and other religious connections play a crucial role for Arab investors when deciding which country to invest in. Ozyer said: “Turkish soap operas widely watched and followed in Middle Eastern countries also attract many wealthy Arab investors looking for luxury here. The country’s economic and political stability also encourages investors to consider Turkey for new investments.”

Total Arab investments in Turkey totalled $10.6 billion last year as Arab’s looked to the Turkish real estate market to invest money in with a view to make a healthy profit.

2 Responses to “Arab buyers increase in Istanbul property market”
  1. I speak arabic fluently. Im a translater as arabic and english. for real estate consultancy dont hesitate call me to +90 532 3317887

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  1. […] in Turkey. With more and more people in Turkey learning to speak Arabic, we could see more and more Arabs investing in Turkey. Share this:EmailDiggFacebookRedditTwitterStumbleUponPrintLike this:LikeBe the first to like this […]

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