Foreigners are returning strongly to buy real estate in Turkey
The economic plan launched by the Turkish government since the start of the Corona epidemic on its soil has contributed to pushing forward in many fields and preserving job positions.
Despite the Corona pandemic, the real estate sector in Turkey has witnessed an increase in sales compared to other countries. The rise in demand for buying apartments for sale in Turkey, as a result of the facilities provided by the Turkish government to Turkish citizens, such as the exceptional long-term and virtually zero-interest loans provided by about three government banks.
With the beginning of the gradual return to normal life in the framework of the smart coexistence with the epidemic, Turkey moved more towards opening more international flights, especially towards countries known for their great desire to own property in Turkey, such as Iran, Russia and Iraq, and here began the trend of foreigners buying real estate in Turkey. The demand for offers of apartments for sale in Turkey is increasing dramatically, in line with the volume of daily international flights between Turkey and these countries.
Although the first two months of the launch of international flights in Turkey, known modestly for investors wishing to buy real estate in Turkey, the third month “August” witnessed a qualitative leap, especially as it coincides with the holiday season in most countries of the world.
How much did foreigners buy from a property in Turkey during the eighth month of 2020?
In the latest data published by the Turkish Statistics Institute, real estate sales in Turkey for foreigners during the past August recorded a record. It is the highest of its kind compared to the rest of August for previous years, with an increase of 8% compared to the same month of the last year 2019. On the other hand, the first eight months of the year 2020 generally recorded a 25% decrease compared to the year 2019.
Foreigners bought 3,893 houses during August, an increase of 42% compared to the previous July.
In general, the Turkish Statistics Institute reported that real estate sales to foreigners during the first eight months of 2020 amounted to 20,896 housing units.
Compared to other real estate capitals in the world such as Dubai, Cairo and New York, where real estate witnessed a record low compared to Turkey, foreign demand for real estate in Turkey has continued.
The report of the Turkish Statistical Institute confirmed that real estate sales to foreigners in Turkey have returned to the pre-epidemic stage if the achieved numbers are considered during August, which recorded an increase of 8%. The turnout is the highest in 2020 since the emergence of the emerging virus.
In which Turkish cities did foreigners buy the most real estate?
According to the data contained in the report, Istanbul is the "economic capital of the country", and as every time it has maintained the largest sales during August 2020. It contains the largest number of real estate projects and also because it has conditions that suit many foreigners who want to invest and achieve high returns in Record time.
Foreign investors prefer to own real estate in Turkey in promising real estate cities such as Beylikduzu, Basaksehir, Esenyurt and Basin Express.
Antalya ranks second for buying real estate in Turkey last August. Foreigners want to live in Antalya due to its mild climate and the presence of many beautiful coasts in it.
In the third place, in terms of buying real estate in Turkey, we find Ankara.
Ranking of the most popular nationalities to buy real estate in Turkey during August 2020
The following table will show the most popular nationalities to buy real estate in Turkey during the past month August:
We note from the above table that the Iranians were the most foreign nationalities who buy apartments for sale in Turkey for the sixth consecutive month of the current year, competing with the Iraqis.
The Russians kept the third place, especially after the opening of the airspace between Turkey and Russia, during August.
Russians prefer to buy real estate in Antalya.
What are the reasons for the high demand for foreigners for apartments for sale in Turkey?
Previous experiences related to foreign real estate investment in Turkey have proven precisely since the passage of the reciprocity law in 2012, a great success for everyone who chose Turkey as an investment destination for him.
And foreign investments have achieved high-profit returns, in addition to the amount of interest they have received, whether in terms of impressive real estate projects or in terms of the incentives provided by the state and Turkish law to foreigners who want to buy real estate in Turkey.
In addition to that, many tax cuts and exemptions, as well as legal amendments that benefit foreigners, such as obtaining Turkish citizenship in exchange for buying a property worth only $ 250,000.
The confidence of foreign real estate investors in Turkey increased more during the Corona period, after a series of facilities approved by the Turkish government for their benefit.
Among these facilities:
- Buying real estate online and obtaining the title deed "Tabu" remotely.
- The possibility of applying for the procedures for obtaining Turkish citizenship also remotely.
- Standard discounts on various offers to buy apartments for sale in Turkey and the purchase of villas, offices, shops and other profitable real estate in Turkey.