08 Jan Increase in sales to foreigners
According to the latest report “The Real Estate Sector of Turkey and the World”, released by GYODER, during the second quarter of the year the real estate sales to foreigners increased significantly with USD 743 million.
Although the law of reciprocity is passed, it still was not in force during the second quarter; still the increase in the sales to the foreigners is promising. The direct foreign capital input to the sector, on the other hand, remains weak with USD 35 million.
On the other hand, a considerable increase has been experienced again in portfolio investments of the foreigners aimed at Turkey during second and third quarter of this year. The portfolio investments of the foreigners increased to UAS 128.1 billlion by the end of August. Foreign exchange reserves of the Central Bank, reached USD 93 billion. The growth in assets of the banking sector, on the other hand, continues to slow down.