Latest real estate sales news in Turkey 2021
Turkey is witnessing a noticeable rise in the sale of real estate and the interest of foreign investors to buy real estate in Turkey and carry out various investment projects, and the goals of those who want to buy property in Turkey vary, either for real estate or commercial investment or in order to obtain Turkish citizenship by buying a property. In this article, we will review the latest real estate sales news in Turkey for the year 2021.
Real estate sales to foreigners in Turkey during February 2021 amounted to about (2995) properties in Turkey, according to the monthly statistics of the Statistics Institute in Turkey, which achieved an increase of (10.34%) within one month.
The average rate of real estate ownership in Turkey by foreigners is between 4 and 5 properties per hour. The average rate of real estate ownership in Turkey by foreigners is 106 and 107 properties per day. The city of Istanbul has achieved real estate sales that reached 1525 Real estate for foreigners during February 2021, as the most foreigners owning real estate in Turkey are of Iranian nationality {577 properties}. This statistic was conducted about a year after the start of the Corona crisis in Turkey, which indicates the recovery of the real estate sector in Turkey, and that it was not affected by the damage caused by the measures to combat the spread of the Coronavirus in the country.
About a year ago, the Iranian, Iraqi, and Russian nationalities ranked first in the top three, and they are the most owners of real estate in Turkey
It seems that the competition is at its peak between Iraqis and Iranians for the top spot in the list of the most foreign owners of real estate in Turkey.
Nationality number of properties
Iran 744
Iraq 732
Russia 259
Afghanistan 230
Kazakhstan 119
Germany 96
Palestine 92
Jordan 81
Yemen 79
Azerbaijan 77
China 72
Egypt 64
United State 63
Pakistan 63
Kuwait 41
Sweden 35
Arabs account for 40% of the total real estate sales to foreigners, as the number of properties owned by Arabs in Turkey during the past month exceeded 1200 properties. Eight Arab countries, as mentioned in the above table, got first seats in the list of countries that buy the most real estate in Turkey. As for the Iraqis, they occupy the second place, with a very small difference from the Iranians, in strong competition to top this list, and their interest is primarily in Istanbul and Ankara.
Before the Corona epidemic crisis, the Gulf people had recorded a prominent presence in the real estate market in Turkey, but the Gulf demand for owning real estate in Turkey has gradually decreased since the middle of last year, and they have left no presence in the list of real estate buyers, with the exception of Kuwaitis who bought only 41 properties last month.
This absence of Gulf nationals in the field of buying real estate in Turkey is explained by three main points:
-Gulf people tend to invest in the stock market, not real estate.
-The goal of the Gulf people in buying real estate is luxury, not real estate investment.
-The Gulf investor is relatively not tempted by the incentives for real estate investment in Turkey, "such as real estate residency and Turkish citizenship."
As for the increasing Iranian and Russian demand for real estate ownership in Turkey, it is explained by several reasons, namely:
-That there is a political rapprochement between these three countries: Turkey, Iran, and Russia
-Turkey does not impose restrictions on real estate ownership for holders of Russian, Iranian, and other foreign nationalities, which enhances the desire of foreigners to own property in Turkey.
-Investors from Russia and Iran are keen on Turkish real estate in order to save their money from exchange rate fluctuations in their countries. Most of the real estate sales for Russians in Turkey were in Antalya, while Iranians preferred Istanbul for housing and investment.
-The tourist side of Turkey, attracted Russian and Iranian tourists.
It has become axiomatic to talk about Istanbul as the best Turkish state to live and work in and to invest not only in the real estate field but in all economic fields available in Turkey.
Looking at these statistics, we see that they reflect the most important features of the gradual return of the real estate market in Turkey to its glory and its revival to what we used to previously, as well as the expectations expected of it, as the flexibility of real estate laws in Turkey and its ability to face changes and emergency conditions that can impede real estate investment or Limit his options, all of which contribute to encouraging more investors and foreigners to own real estate in Turkey.
