Foreigners Flock To Istanbul, Turks Flock To Abroad

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While Turkey continues to be foreign investors’ main squeeze, many Turks prefer the United States to be homeowners.

Last year, 5,811 of foreigners who bought 18,000 houses in Turkey preferred Istanbul, while in the same period, 1,000 to 1,500 Turkish citizens who are homeowner in the United States were identified as Miami.

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While Turkey is among the countries preferred by foreigners who want to have house abroad, many Turks also buy houses in the United States. The foreign investors’ opinion in Turkey is Istanbul and the Turkish favorite who owns the property in the United States is Miami.

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The sale of housing for foreigners has begun to increase as the regulation, known as the "reciprocity law", regulates the acquisition of foreigners' immovable property and takes effect in 2012. Following the regulation according to TUIK data, foreigners from Turkey sold 12,181 in 2013, 18,959 in 2014, 22,830 in 2015 and 18,189 in 2016.

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Ersan Songur, who is the broker of real estate business in USA, said that Turks have experienced an increase in demand for housing in the United States in recent years.

Songur said that "Famous and social people like Acun Illıcalı, Sibel Can, Hadise and Tolgahan Sayısı have homes in Miami as we know from the magazines. Since New York is a metropolis, Miami is a holiday city, they prefer these cities. New York is like Istanbul and Miami is like Antalya so the Turks who came home from here have no difficulty in terms of climate conditions. "

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