Within the Turkish Real Estate Market, 138 Thousand Properties for Foreigners in the Last Five Years

Continuing with its extraordinary leaps and growing renaissance, the Turkish real estate market is achieving extraordinary achievements attesting to its strength and prestige that is growing heavily among global real estate markets. In this regard, it is enough to take a look at the real estate market statistics in Turkey for the first half of 2019, and all the previous statistics, for those wishing to enter this market a clear idea of ​​the magnitude of this market and the strength of its resilience in the face of all the tremors and variables, and even the extent of the horizon awaiting him in the very near future, and Turkish real estate sales to foreigners increased significantly last year due to the high exchange rate and Amend the executive regulations of the Turkish Citizenship Law.

Within the Turkish Real Estate Market, 138 Thousand Properties for Foreigners in the Last Five Years

In order to gain more visibility and confidence in the promising Turkish real estate market, here are the official statistics on some details of the Turkish real estate market and its activities, especially among foreigners wishing to acquire Turkish real estate in Istanbul for housing, work or investment.

Almost 138,000 properties have been sold to foreigners in the last five years

During the last five years which witnessed an unprecedented exceptional rise in the Turkish real estate sector, namely between September 2014 to August 2019, the number of properties sold to foreigners reached 137869 properties in Turkey. The largest number of properties were sold on a monthly basis in 2019 While the highest sales took place year on year in 2018, during the first eight months of this year 2019, the number of properties sold to foreigners increased by 50 percent compared to the same period in 2018, reaching 74827 properties in Turkey. Significant increase in sales was recorded on a monthly basis, particularly q in the first six months of this year, in terms of sales to foreigners in previous years, the number of properties sold was 66339 in 2018, 23422 in 2017, 18189 in 2016, 22830 in 2015, and 7205 in the last four months. From 2014.

Bestselling Turkish cities for foreigners

More than a third of the properties purchased by foreigners in the past five years were in Istanbul, which is the undisputed lady of the Turkish real estate market as the price of apartments in Istanbul is clearly attracted by the economic, historical and tourist significance of the city. The number of properties sold to foreigners in Istanbul reached 14270 in 2017, 8182 in 2017, 5811 in 2016, 7493 in 2015 and 2136 in the last four months of 2014. Although Antalya was ahead of its Istanbul in the sale of real estate to foreigners in 2014, but Istanbul advanced in the following years.

Within the Turkish Real Estate Market, 138 Thousand Properties for Foreigners in the Last Five Years

Speaking of Antalya, which is now second only to Istanbul in the sale of real estate to foreigners, 30840 properties have been sold in the past five years to foreigners in Antalya, while 8825 properties have been sold in Bursa, 6935 in Yalova, 5901 in Ankara, 4827 in Aydın, and 4678. In Sakarya, 4625 in Trabzon, and 3773 in Mersin.

Iraqis at the top of foreign buyers of property in Turkey in the last five years

In the last five years, Iraqis ranked first among foreign nationalities that acquired real estate in Turkey, with 24020 properties, followed by Saudis with 12000 properties, Kuwaitis with 9000 properties, Iranians with 8987 properties, Russians with 8987 properties, and Afghans with 6319. The Germans 5273, the British 4721, the Azeris 4328 and the Ukrainians 2654.

More than 4000 properties in Turkey were sold to foreigners in July 2019 alone. Focus on home sales to foreigners has become very important in Turkey in the past period. According to statistics, foreigners are paying an average of $ 150,000 for a property in Turkey. Therefore, every 10000 units sold to foreigners in Turkey are estimated to be worth about $ 1.5 billion in foreign exchange earnings. The demand for Turkish real estate by foreigners increased after the issuance of amendments to the new Turkish citizenship law in 2017, which allowed the acquisition of Turkish citizenship immediately for every foreigner. Acquires a property in Turkey worth 250 thousand dollars and above, which increased the search for any apartments for sale in Istanbul turkey as well.

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