Turkish Real Estate Sector Statistics for 2020

The Turkish real estate sector still in his excellent position as one of the best investment sectors in Turkey, and is committed to its advanced rank within the real estate markets in the region and the world in general, and all indicators, reports and real estate statistics confirm this from ten years to the present time, as all numbers indicate an increase the demand for buying real estate in Turkey, whether for investment or for housing.


Turkish Real Estate Sector Statistics for 2020

Despite all the global and local conditions, Turkey’s real estate market in 2020 witnessed its best performance in eight years, despite the global crisis caused by the new Corona virus and its successive waves, the Turkish Statistical Institute revealed the statistics of home sales in the year 2020.

The number of homes sold during the year 2020 reached one million 499 thousand and 316 homes. Thus, home sales increased by 11.2 percent in 2020 compared to the previous year.

Istanbul topped the Turkish states in the number of sales. By one million and 199 thousand and 715 during the year 2020 only, followed by the capital, Ankara, with 720 thousand and 124, then the state of Izmir with 412 thousand and 588, and Antalya with 313 thousand and 735, and Bursa with 265 thousand and 715. This is according to the Turkish Statistical Institute, Turksat. It should be noted that the lowest number of house sales were recorded in Ardhan city, as the number of sales in this city reached 192 houses only during the year 2020.

Among the reasons for the popularity of Istanbul is its natural beauty and cultural diversity, in addition to its economic strength, which made it a destination for tourism and investment. Istanbul is also featured as the most populated European city, with an estimated population of 21 and a half million people. The city is receiving increasing interest in developing the infrastructure, and among the most important mega infrastructure projects that were then built in the new Istanbul Airport and the Istanbul Canal, which is being worked on, in addition to dozens of huge medical, educational and economic projects. All this made Istanbul one of the most important destinations for real estate investment in the world.

The percentage of real estate sales in Turkey of new homes reached 31.3%, while the rate of old home sales rose to 68.7%, reaching one million 29 thousand old homes.

Real estate sales to foreigners in Istanbul reached 61,734, and Istanbul also topped sales of real estate to foreigners, as 39.8% of the total 154,871 home sales were sold in the city. It was followed by the state of Antalya with 32,61, then Bursa with 8904, Yalova with 6813, the capital Ankara with 7856, and Sakarya with 4769. The Iraqis led the rest of the foreign nationalities in purchasing real estate in Turkey, by 30,209 during the same period. The Iranians ranked second with 15 thousand and 83, then the Saudis with 13 thousand and 296, the Russians with 11 thousand and 228, and the Kuwaitis with 10 thousand and 137.

The amendments to the Turkish citizenship law and granting it to real estate owners and investors have helped to supply and strengthen the Turkish real estate market, and experts in the real estate market expect an accelerated development in the coming period.

Generally speaking, if you are one of those looking for real estate for sale in Istanbul Turkey or you just want to ask about real estate prices in Istanbul, we are ready to help you in determining your most appropriate choice, and to ensure that you get the best available options in a way that brings you profit and preserves the value of your future property that you wish to live or invest in Turkey, take advantage of our guidance and advice completely free of charge, which our experts will provide you with pleasure and welcome, Call Now.