Turkish buyers are among the most financially sophisticated international buyer groups in South Florida. The lira's steep devaluation, a strong real estate investment culture, and direct Turkish Airlines service from Istanbul make Turkey a growing feeder market.
The complete guide for Turkish buyers purchasing property in South Florida. Currency, FIRPTA, estate planning, and the Fort Lauderdale and Aventura markets attracting Turkish buyer activity.
Turkey has a deeply embedded real estate investment culture. Turkish buyers are not new to cross-border property investment: Istanbul's luxury market, Bodrum's coastal villa market, and the strong Turkish buyer presence in Dubai, Greece, and Northern Cyprus all reflect a buyer class that treats real estate as a normal and primary investment vehicle. For Turkish buyers, South Florida is the next logical step in that trajectory. The USD stability argument is compelling and immediate: a Turkish buyer who purchased a $1M U.S. property in 2018 has effectively seen that asset appreciate by roughly...