The Developments in The Turkish Real Estate Sector in 2018

Turkish real estate sector has witnessed remarkable growth by the end of 2018. It has become one of the most important investment areas in Turkey, especially for foreign investors. Here are some clarifications that shed light on the reality of real estate sector in Turkey and its development according to our experience in this field.

The Developments in The Turkish Real Estate Sector in 2018

The reasons of the Turkish real estate sector development:

Experts and specialists recorded a rise in real estate sales in Turkey from 2003 to 2018. The growth of the real estate sector in Turkey by the end of 2018 exceeded 11%, the most important   factors that lead to this:

  • Political stability and the booming tourism sector, which is still developing, especially in Istanbul which has tourist attraction and distinctive apartments, which make the purchase of apartments in Istanbul a steady growing investment.

  • Turkey is the best destination for Arab travelers, because of the similarity of social and religious values, in addition to the bad conditions in many Arab countries, which made the real estate market in Turkey flourishing, especially among Arabs and Muslims.

  • The stability of the real estate sector .Since the Real estate investment is a long-term investment. Along with the devaluation of the Turkish lira, the real estate sector has maintained its stability and developing. Which enable the foreign investors to buy many large properties by Turkish lira, that seemed to have acceptable prices in comparison with foreign currencies.

  • The wide area of Turkish territory that spread from east to west   has given many choices for investors, which make the Mediterranean coast, the Aegean coast, and Istanbul purchasing head the list of purchases.

In figures. The development of the Turkish real estate sector during 2018:

The number of properties that sold during 2018 according to the Turkish Statistics Agency about million and 375 thousands and 398 apartments, increased to 2.4% in comparison to sales in 2017.

The percentage of properties owned by foreigners rose by about 78.4% by the end of 2018, and the number of apartments sold to foreigners reached 39 thousand and 663 apartments according to the statistics cited, and the Iraqis came at the top of that list as the number of apartments owned by 8205, followed by the Iranians, the Saudis, the Russians and the Kuwaitis.

Istanbul headed the list of best-selling apartments, followed by Antalya and Bursa and then Ankara.

Our agents in EstateNation are ready to help you in searching for apartments for sale in Istanbul feel free to consult them.

The high purchasing rate is coupled with lower real estate prices, according to the statistics issued by the Central Bank of Turkey, and is supported by the opportunity to acquire Turkish citizenship by owning a property, making the purchase of apartments in Istanbul, in particular, a target for many foreign investors, as well as Syrian nationality Options for Syrians to Buy a Property in Turkey

The Developments in The Turkish Real Estate Sector in 2018

Experts’ expectations for the Turkish real estate market for 2019:

Turkey’s real estate sector remained cohesive and stable in the face of many crises in Turkey in the last decade, and Turkey’s real estate has been one of the most important safe investments aimed by local and foreign investors, despite all the country’s political and economic crises.  Experts and specialists see that the real estate sector in Turkey will flourished in 2019 along with decision of pricing the apartments in Turkish lira. As many properties are available now for foreign investors after pricing them in Turkish lira and preventing their pricing in US dollars or euros.

As the real estate citizenship law increases the purchasing rates for foreign investors who can get Turkish citizenship by owning a property    which give them safe and profitable investment at the same time.

The Turkish government decision to reduce the minimum investment amount required from $1 million to $250,000 removes obstacles and facilitates their transactions, since the title deed is not a condition for applying for Turkish citizenship by owning a property, as the sales contract is sufficient, so buying a property  (in progress) is sufficient with low cost.

Many investors want to get the Turkish passport, which is ranked, 39th in the world, and allow its holder to enter more than 72 countries without obtaining a visa, and this has become very easy.

As the Turkish real estate sector is significantly developing, we have prepared a team of experts to answer your questions. Contact us now.