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BLOGS

Investors’ Eyes Are on Turkey
in Real Estate Sector

According to both Turkish media and foreign media outlets, domestic and foreign investors’ eyes are on Turkey especially in the sector of real estate. In recent years, there has been a growing interest in Turkey for real estate investment. In other words, it can be said that, Turkey is one of the leading countries for real estate investment.

 

There are various reasons behind Turkey’s growing popularity among foreign real estate investors. First of all, the bureaucratic obstacles have been eliminated to an important degree. Today, it is easier to buy a property in Turkey compared to previous years. Secondly, getting the right to have Turkish citizenship with the purchase of USD 250.000 cost property plays a key role in making foreigners buy property in Turkey. Thirdly, the touristic and cultural beauties of Turkey attract the attention of many foreigners.

 

Housing sales to foreigners have been increasing over the last months. The statistical numbers declared by Turkish Statistical Institute (TSI) show that there has been a considerable amount of increase in the house sales made to foreigners. Iraqi citizens have the first ranking who bought property in Turkey in 2018 and 2019.

 

Until the end of November 2019, respectively, the number of citizens of the below-given countries have purchased the greatest number of property in Turkey:

1- Iraq: 6699

2- Iran: 4660

3- Russia: 2531

4- Saudi Arabia: 2014

5- Afghanistan: 1879

6- Kuwait: 1730

7- Germany: 1536

8- Jordan: 1442

9- Yemen: 1323

10- United Kingdom: 1247

11- Azarbaijan: 1045

12- Palestine: 991

13- Libya: 970

14- Egypt: 891

15- Sweden: 699

16- Kazakhstan: 672

17- Qatar: 650

18- Ukraine: 616

19- USA: 596

20- Lebanon: 590

 

Also 7.795 other nationals bought property in Turkey until the end of November this year. Compared to last year's purchases of housing foreigners in Turkey an increase of 14.63% has been seen while 100.6% amount of increase took place as compared to 2017. This shows the high rate of increase and every month the number of foreigners buying property in Turkey is increasing. Foreigners mostly buy residential properties in Turkey while making real estate investment. The cities the foreigners prefer most while purchasing property are respectively İstanbul, Antalya, Ankara, Bursa and Yalova.

 

It can be said that with a skyrocketing rise, Turkey's property market has seen its best in real estate sales to foreigners across the country in 2019. The market has hit all-time figures in sales to foreign buyers during each month since the beginning of 2019. The experts state that the incentives and advantages introduced for foreigners in Turkey will continue and this will make Turkey become more popular for real estate investment than ever.

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