The most attractive areas to buy real estate in Turkey in 2020

The world is about to bid farewell to a year, not like all the years 2020, this year pregnant with pain for some of them and losses for others and apprehensions for what remains of them.

But at the same time, it was a year of will, determination, and challenge for people and institutions who believed that difficult days existed for self-realization and successes.

The real estate sector in Turkey was one of the most important economic sectors that showed a high level in the face of the effects and repercussions of the pandemic, which mainly affected aviation, one of the most important tributaries of the real estate sector in Turkey, which is witnessing a record turnout by foreigners.

How much property did Turkey sell in 2020, and what are the areas that achieved the best sales of apartments in Turkey, and how did Turkey face the pandemic and pull the real estate sector out of the eye of the typhoon?

You will find a clear answer to all of these questions, especially for you who want to own a property in Turkey or want to start your investment project in Turkey by buying real estate.

Real estate sales in Turkey during 2020

The best selling areas for real estate in Turkey 2020

Real estate in Turkey 2020 ... a thoughtful plan for a calculated result

The future of buying and selling real estate in Turkey 2021

Buying real estate in Turkey 2021 ... horizons from the challenges of the year of the pandemic:

Real estate sales in Turkey during 2020:

The figures of the Turkish Statistics Authority showed that real estate sales in Turkey increased by 27% during the first ten months of 2020, compared to the same period last year 2019, achieving the sale of one million and 280 thousand and 852 properties with expectations that the total real estate sales in Turkey will reach one and a half million By the end of the year 2020.

The number achieved by real estate sales in Turkey during 2020 is considered huge compared to the rest of the real estate capitals in the world, although Turkey's goals were above the 2 million threshold, but achieving 70% of the targets set out in the most difficult circumstances and with the cancellation of trips for months and their limited organization later was an achievement. Worthy of praise and a distinguished experience in the global real estate market.

The record achieved for Turkey in real estate sales did not exceed one million and 409 thousand properties at the annual level so far, it will be smashed if real estate sales in Turkey reach the threshold of one and a half million by the end of this year 2020.

Thus, Turkey has distinguished itself and managed to break its record in the glory of the shrinking global sales of the real estate market in Turkey.

The best selling areas for real estate in Turkey 2020

Since the abolition of the law of reciprocity regarding the purchase of real estate in Turkey, Istanbul has maintained the first place to buy apartments for sale in Turkey, as the economic tourism capital of the country and its beating heart.

This is the case during the year 2020, as Istanbul topped the list of real estate sales in Turkey, whether for citizens or foreigners who owned a property in Turkey or made real estate investments with the aim of obtaining Turkish citizenship.

In 2020, Istanbul and Antalya accounted for 65.2% of real estate sales in Turkey, so Antalya ranks second in most months of 2020, followed by Ankara, Bursa, Izmir and Trabzon.

Foreigners have purchased nearly 32,000 properties in Turkey, including 14,424 properties in Istanbul and 6,53 properties in Antalya.

Ankara came in third place in the list of countries with the most real estate purchases in Turkey for foreigners with two thousand and 176 properties, followed by the purchase of real estate in Bursa with about 1068 properties.

Real estate in Turkey 2020 ... a thoughtful plan for a calculated result

Since the days, rather, the first hours of announcing the outbreak of the Corona virus throughout Turkey, and the registration of the first case of a pandemic, the Turkish government proposed an alternative plan to contain the negative economic repercussions of the epidemic on the country, and the real estate sector in Turkey was one of the most important pillars of the decision.

Among the most important decisions taken by the Turkish government, in addition to the economic shield plan and the package of other measures, is to grant loans at low interest rates for those wishing to own real estate in the framework of helping to stimulate, revitalize and revive the economy, coinciding with the stage of returning to normal life after the pandemic.

Three banks in Turkey, namely Ziraat Bank, Waqf Bank, and Hulk Bank, in addition to two participatory banks, Katilim Ziraat Bank and Katilim Endowment, have taken care of the exceptional economic initiative by launching four packages of loans that include mortgages for new homes as well as loans for the purchase of cars, locally produced goods and holiday expenses with interest rates. Annual less than inflation.

The lending banks set the term of mortgages allocated to new homes and second-hand housing units under the housing package to 15 years, with interest rates as low as 0.64 percent and a maximum grace of 12 months.

Lenders indicated that the lower repayment rate for lower equity stocks starting at 10% is applied to the use of the financing.

The five banks confirmed that they are working to ensure that the largest number of customers benefit from the loans, by specifying the amount of financing that is provided to each customer at 750,000 liras, or about $ 110,000 USD, in order to buy homes in 3 major cities, which are Istanbul, Izmir and the capital, Ankara. While allocating clients in the remaining cities, a maximum of 500 thousand Turkish liras.

Since the launch of the reform packages, the real estate sector in Turkey has confirmed that the demand has increased by about 50%, as the offers of apartments for sale in Turkey have been crowded with the requests of those interested, who have remarkably flocked to all types of real estate in Turkey.

The low mortgage rates and the length of payment plans provided middle-income families with the opportunity to buy real estate in Turkey, after it was difficult for them not long ago due to the high mortgage rates until the last quarter of 2019.

In addition to the opening of real estate attachments by the Turkish authorities, through their diplomatic representations abroad, for the first time, foreigners can legally complete all ownership procedures in Turkey, especially those who were unable to travel due to the continued suspension of flights or the reduction of the number of organized flights.

In addition to that, most transactions of real estate ownership in Turkey are transferred remotely, i.e. online, which made it easier for those wishing to buy a property in Turkey in line with the social distancing system and the partial and total curfew imposed by all countries of the world, including Turkey.

The frequent discounts and reductions in real estate prices in Turkey and the special offers launched by construction companies, in turn, contributed to the remarkable demand of locals and foreigners to buy apartments for sale in Turkey.

The future of buying and selling real estate in Turkey 2021

Although it was a difficult year for Turkey and the world due to the pandemic that did not leave a country in the world without connecting it to its enemy and its effects, Turkey had peace with the least damage thanks to the effective planning and strategic policy adopted by the country's authorities.

Accordingly, real estate experts believe that the beginning of 2021 will witness some kind of difficulties compared to the beginning of 2021 due to the continuation of the second wave of the emerging virus.

However, once the vaccination that Turkey was the first to acquire was circulated, life will return to normal, and thus real estate sales in Turkey will flourish more than ever before.

Experts and specialists confirm that most of the groups that buy are those who have postponed their investments due to the pandemic, and whose number exceeds 100,000 foreigners, are waiting for life to return to its previous state to start their investment projects in Turkey.

Real estate experts believe that the Iraqis will return strongly to buy, followed by the Iranians, who took first place in terms of real estate sales to foreigners during the last months of 2020 due to the circumstantial suspension of flights between Iraq and Turkey.

Expectations are directed that the purchase of real estate in Turkey 2021 will be equal between the demand for buying apartments in Turkey for the purpose of housing and also with the aim of real estate investment in Turkey of all kinds.