Turkish agent reports rise in arab investment

Arab investment is soaring in Istanbul, according to one Turkish estate Agent.

Figures from the Turkish Statistics Institute (TurkStat) last month highlighted that foreign property sales have increased by 28 per cent since this time last year, with Istanbul being the most popular area of interest.

One agent reveals that Arab investors are helping to fuel that increase.

Monica Anca, Director of Universal21, says that they now make up 1 in 4 of their total sales, up from 1 in 20 last year - an increase of around 400 per cent.

2015 marks the Year of Culture between Turkey and Qatar, an event to celebrate the cultural partnerships between Qatari and Turkish organisations, institutions and individuals. As the strong relationship between the two countries continues to develop, the General Manager of Turkish Airlines in Qatar confirms that Istanbul has now become a favourite tourist destination for Qatari nationals, with a 30 per cent increase in the number of Qatari tourists who visited in 2014.

"Currently 65 per cent of our lead enquiries are coming from Arab nationals outside of Turkey," comments Anca.

"I believe that this trend will continue, with foreign investment becoming significant to the future of Istanbul's property market."