Why is the Real Estate Sector in Turkey Developing Significantly?
The Turkish construction industry, which has an important place all over the world, makes a name for itself with its quality and luxury structures. A large part of real estate investors in the world prefers to invest in Turkey due to its quality and modern projects and affordable housing.
In Turkey, records were broken in terms of the number of residences, workplaces, land, and fields sold, sales value, and title deed fee in 2020. According to the number of real estate sales made in 2019, despite the Covid-19 pandemic, the number of real estate sales increased by 11.2% in 2021 and became 1,499,316.
With 382.458 units, the most residential sales were realized in Istanbul. Ankara was followed by Ankara with 215.589 units, İzmir with 144.463 units, Antalya with 104.160 units, and Bursa with 100.952 units.
The number of real estate sales in Turkey in the first 4 months of 2021 was announced by the Land Registry and Cadastre Directorate. As always, it was stated that the highest share in real estate sales belonged to residential sales. According to the figures announced, a total of 851.612 real estate sales were realized in Turkey in January, February, March, and April 2021. According to these figures, in the first four months of the year, 345.232 residences, 154.868 land plots, 246.370 fields, and 40.047 workplaces were sold.
With the fluctuation in the exchange rate in Turkey, the housing prices in Istanbul decreased to an average of one hundred thousand dollars. The number of projects with flats in this price range in Istanbul has increased. The real estate market, which was kept alive with the interest rate campaign in 2020, was not affected much by the negative effects of the pandemic. In 2021, it is expected that more than 50 thousand houses will be sold to foreigners with the new promotional activities to be carried out throughout the country, the pandemic gradually losing its effect, the spread of coronavirus vaccination, and the reduction of pandemic measures.
Real estate market expectations in Turkey in 2021
Despite the Covid-19 pandemic, which affected the whole world and negatively affected the economies of the country, the real estate sector in Turkey closed in the year 2020 with a great profit. The interest campaign initiated by the Turkish Government to keep the sector alive has greatly stimulated the domestic market and increased sales. Construction companies, which closed 2020 with great profits, have started preparations for their new projects for 2021. Considering the new projects to be made, 2021 is expected to be the year of investment in Turkey.
The real estate sector in Turkey, whose value increases every year, attracts the attention of foreigners. The real estate sector in Turkey offers investors great lucrative investment opportunities and advantageous purchasing opportunities. Real estate investment, which is seen as the most reliable and profitable investment tool, is the most preferred investment type by investors.
The real estate sector, which started in 2021 with hope, melted the stocks in 2020 and started new project investments. With the effect of the pandemic, changing housing demands have come to the fore, and new projects have begun to take shape according to these demands. Accordingly, in the new housing projects to be made, larger houses with balconies, gardens, and terraces come to the fore. It is also on the agenda to create living spaces that offer versatile socialization and entertainment opportunities.
Why Should Invest in Real Estate in Turkey?
Real estate investment, which is the most profitable and safe investment option, is the most preferred investment type by investors. Turkish properties offer investors a profitable and safe investment opportunity beyond expectations.
Turkey, which has a unique geographical location, has magnificent natural beauties, rich historical monuments, advanced infrastructure, and superstructure opportunities, developed commercial and tourism volume, and a steadily growing economy. Besides all these, there are many reasons to buy real estate in Turkey. To put it briefly;
- Opportunity to obtain Turkish citizenship for property purchases of 250.000 USD or more (with spouse and children under 18 years old)
- Despite the political, economic, and social issues in the country and the world, the real estate sector in Turkey has always continued to grow and has continued to earn.
- Foreigners can buy real estate in Turkey only with their passports and visas, without the need for any permission.
- Giant projects implemented in Turkey in recent years increase the prestige of the country worldwide. Especially the properties located around these projects offer investment opportunities that will provide great profit.
- The climate of Turkey, which has different beauties in all four seasons, attracts the attention of foreigners living in very hot or very cold regions.
- Turkey has a young and dynamic population. For an investment to be made here, there is both a wide market mass and the opportunity for a qualified and young workforce.
- The Turkish lira devaluation experienced in Turkey in recent years offers very advantageous real estate purchasing opportunities for foreign investors. A foreigner buying property at a low exchange rate today is expected to receive a high return on investment within a few years.
Please contact Diyar Turk Real Estate professional and experienced sales consultants on our website, or contact us via info@diyarturk.com to get more information about real estate prices and real estate for sale in Turkey.
