The real estate sector in Turkey recorded an increase in the number of housing units sold to foreigners by 45.

Real estate sales news in ...

Date:Monday, April 18, 2022

The real estate sector in Turkey recorded an increase in the number of housing units sold to foreigners by 45.

Real estate sales news in Turkey in the first quarter of 2022
 

The real estate sector in Turkey recorded an increase in the number of housing units sold to foreigners by 45.1 percent during the first quarter of this year compared to the same period in 2021.

According to information obtained by Anatolia from the Turkish Statistics Authority, real estate sales to foreigners in Turkey increased by 31 percent in the month of March.

The number of units sold in the aforementioned month reached 5,567 units, while sales increased in the first quarter of this year by 45.1 percent, and the number of units sold reached 14,344 units.

This is the highest rate in the quarterly data ever in real estate sales, and thus a new record was set in the March and quarterly data.

- 41 percent of real estate sold in Istanbul

Istanbul ranked first in real estate sales to foreigners with 5,974 units, equivalent to 41.6 percent of the total real estate sold to foreigners during the first quarter of the year.

Antalya came in second place with 3447 units, then Ankara with 904 units, Mersin with 664 units, and Bursa with 452 units, followed by Yalova, Izmir, Samsun, Sakarya and Trabzon among the top ten.

Iranians topped the list of nationalities buying real estate in Turkey in the first quarter of this year with 2,256 housing units, followed by Iraqis with 1,887 units.

The number of real estate sold to Russians amounted to 1,535 units, an increase of 63.6 percent compared to the first quarter of last year. The percentage of increase in real estate sales to foreigners in general during the mentioned period was 45.1 percent.

During the same period, the Germans bought 617 housing units, the Kazakhs 570, and sold 486 units to the Afghans, and 382 to the Kuwaitis. Citizens of Ukraine, Yemen and Jordan came among the top ten.

Raising the minimum property requirement to 400 thousand dollars to obtain Turkish citizenship

In statements to Anadolu Agency, Nazmi Dorbakim, Chairman of the Board of Directors of the Istanbul Builders Association, said that sales to foreigners exceeding the 5,000 mark is a positive thing, indicating the continued momentum gained by the influx of foreign currency into the country.

He pointed to raising the minimum value of real estate to obtain citizenship to $400,000, explaining that his association expects the sale of real estate to foreigners to continue without slowing down, and to provide more foreign currency flow to the country over the next few months.

On the other hand, Tamer Oz Yurt, Chairman of the Board of Directors of Oz Yurtlar Contracting Group, said that the increase in real estate sales to foreigners continued in March as well, and that this reflects the confidence of foreign investors in Turkey, and their view of the country has not changed, regardless of the circumstances.

I consider that the high exchange rate of the dollar against the Turkish lira is one of the things that attract investors.

Oz Yurt pointed out that foreign investors will continue to support the real estate sector in Turkey, adding that the sector's workers should not only target the Middle East market, but should extend to Europe, Africa and Central Asia.

He stated that the number of sales will increase with the advent of the summer months.

The data confirms the attractiveness of the real estate market in Turkey

For his part, Salman Ozgun, Chairman of Helman Construction Company, confirmed that real estate sales to foreigners recorded record numbers in March and in the first quarter of the year.

He said that these data indicate that the real estate investment sector in Turkey maintains its attractiveness, and also shows the confidence of foreign investors in Turkey.

Ozgun stated that Antalya is still the preferred destination for foreigners to buy real estate, as the number of housing units sold to foreigners in the first quarter of this year reached 3447, an increase of 83 percent.

Sales continue to rise

Abdul Samad Bahader, CEO of Bahash Holding Group, said that the increase in real estate sales to foreigners will continue as the effects of the Covid-19 epidemic begin to recede.

He pointed out that sales may be negatively affected by the decision to raise the minimum value of the property to obtain Turkish citizenship, to 400 thousand dollars.

Bahader explained that selling real estate to foreigners is not the main reason for the increase in real estate prices in Turkey, and that the reason for this is the increase in cost.
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Bahader demanded that the decision be reviewed and the minimum value necessary to obtain Turkish citizenship be reduced.

 

Related Blogs:


What are the new amendments to the Turkish Citizenship Law 2022?

Which nationalities can own a property in Turkey?

The latest news of the Turkish economy

Turkey tops the G20 in economic growth

Istanbul house prices increased 95%

The flow of investments from Europe to Turkey

 

Turkish Economy| Istanbul apartments| Turkey apartments | Notary in Turkey | Turkish citizenship | After-sales real estate services | Pre-sales real estate

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