Turkish Real Estate Market Statistics for the First Half of 2020
After the start of the normal life, the real estate market in Turkey have refreshed and witnessed a record rise in sales with an unprecedented increase in prices, as July sales alone reached 229,357, and the number of homes sold increased by 124.3% compared to the same month of 2019, and it seems To watch, real estate sales are now at their peak of activity and prosperity for this year, which makes entering the real estate market today a golden opportunity for those wishing to invest in successful real estate in Turkey.
Early 2020 and the spreading epidemic
The statistics at the end of 2019 heralded a major breakthrough for the Turkish real estate world after the rapid growth spurt that it witnessed, especially in real estate in Istanbul sales to foreigners who entered this market through its widest doors, and January confirmed expectations, but the COVID-19 crisis cast a shadow on economic markets in The whole world witnessed a slight stagnation that was not expected.
First quarter of 2020
However, the real estate sales report for the first quarter of 2020 confirmed an increase of 14% in the first three months of the year, as foreigners bought 10,948 apartments between January and March of 2020, achieving an increase of 14% compared to the same time last year.
As last year, Istanbul remained at the top of the list of best-selling cities, and Iraqis remained at the top of the list of foreigners who buy property in Turkey.
Second quarter of 2020
The second quarter of 2020 maintained the 14% increase compared to the same period last year, and three factors contributed to the growth of the real estate sector, which are:
The rise of Turkish industrial movement since September 2019.
The increase in demand for housing with the living conditions required by the epidemic
The attractive mortgage loan campaign carried out by the central banks, which provided 140 billion Turkish lira’s in just two months.
As a general evaluation for the first six months of this year, an increase in housing sales was announced by 23.5%, achieved in 624374. This turnout led to an increase in real estate prices by 14%.
Istanbul received the largest share with 15.2%, followed by Ankara with 11.5% and Izmir, with 6.2% of total Turkish sales.
And if real estate sales to foreigners decreased in the first six months due to the suspension of air traffic and poor communication between countries, they returned to their activities in July, which showed an increase of 19.5%, and 39,432 housing units were sold in Istanbul alone, followed by Ankara, according to “Turksat”.
Economic experts confirm that turkey real estate investment will remain at the top of the lists of profitable investments, with the continuous support provided by the government and the continuous facilities and incentives, especially for foreigners who are about to buy a property in Turkey.
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