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Trabzon City... The Destination of New Arab Investments

: 2018-01-24 Modified date : 2020-01-13

Trabzon City... The Destination of New Arab Investments
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Trabzon is one of the most attractive tourist destinations in Turkey, especially from Arab countries. The city that is located in the eastern Black Sea, is attracting more Arab tourists and investors throughout the year.

Figures from real estate registries in eastern Black Sea cities such as Trabzon, Artvin, Rize, Gumushneh, Bayport, and Girona show that there is a high foreign demand for real estate in these cities, and sales figures for foreigners are constantly rising.

The year 2016 - despite the hard conditions experienced by Turkey during that period has seen the sale of 1,122 apartments in the region, while the number in 2017 reached 2842 apartments, an increase of more than one hundred percent.

Trabzon topped the list of most sold properties for foreigners in the east of the Black Sea. The number of apartments sold in 2016 was 1075, with 2,754 apartments in 2017. Girson and Bayport are second and third in terms of foreign demand.

Saudi Arabia topped the list of the largest foreign investors in the East Black Sea region in general and Trabzon in particular. The number of apartments sold to Saudis reached 976 in 2016 and 1492 in 2017.

Citizens of Kuwait, United Arab Emirates, Qatar and Jordan came in the following rankings after Saudi Arabia, according to figures from the region's Real Estate Records Directorate.

The Director of Commercial Registration Department in Trabzon, Adnan Jowhar said that the volume of sales to foreigners is expected to double in 2018, taking into account the figures issued in 2016 and 2017.

Source: Emlak Haber TV

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