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Appraisal Report to Become Compulsory for Foreign Real Estate Buyers According to the announcement published by TKGM (Turkish General Directorate of Land Registry and Cadastre), foreign property buyers will need an obligatory appraisal report to receive a title deed. This new law will apply in Turkey from the 4th of March 2019. In that way, the Turkish government aims to secure foreigners during real estate purchases. Directorate plans to apply that rule for all real estate sales nationwide. Consequently, the appraisal reports will be conducted also for...

1.375.398 Properties Sold in Turkey in 2018 According to TÜİK (Turkish Statistical Institute), 1.375.398 properties sold in Turkey in 2018. In that period, we observe a 'crease of 2,4% in the real estate sales with, at the same time, an increase of 19,39% considering real estate prices. In Antalya city including Alanya, Side, Belek, Kemer, etc. prices increased by 19,86%, in Bursa by 12,89%, in Izmir by 11,47%, in Ankara by 8,86%, in Istanbul by 4,91%. As stated in the index report, at the end of 2018, the average price for properties in Istanbul was 441,600 T...

Foreign Nationals Bought 11,816 Properties in Turkey in 2018 In Turkey, the boom in the tourism sector in 2018 have a good impact on real estate, as well. According to data from the Turkish Statistics Institute (TÜİK), foreigners purchased a total of 11,816 properties across Turkey in the first 6 months of 2018, with an increase of 18,8 % compared to the same period of 2017. Turkey’s Property Sales by City In house sales to foreigners, Istanbul is...

We Became a Member of AIPP (Association of International Property Professionals) We now have the great pleasure to announce that as of today TERRA Real Estate is a member of AIPP - Association of International Property Professionals. As a member of this major industrial body, TERRA Real Estate makes a firm commitment to be bound by the code of conduct and rules of AIPP. Our members...

Turkish Real Estate Price Index Realized Europe's Highest Growth at 18,5% Turkish Residential Real Estate Price Index has the highest growth in Europe with 18,5 % when global house prices shifted in the year to June 2015 rising by only 0.1%. The Knight Frank Global House Price Index established in 2006 allows investors and developers to monitor and compare the performance of mainstream residential markets around the world. The index is compiled on a quarterly basis using official government statistics or central bank data where availa...