The best real estate sales rate for Turkey in June 2020
"Turkey did not achieve this number of real estate sales during June in years. We are proud of a sector that is growing day after day and proves its position in the Turkish economic market and successfully passes all the obstacles, but rather with superiority."
These were the words of Turkish Minister of Treasury and Finance Berat Albayrak, the moment he revealed the numbers of sales of housing units during last June, who confirmed that it had witnessed a remarkable increase, achieving a record amounting to the sale of more than 190 thousand and 12 apartments.
Albayrak said that the statistics of sales of apartments in Turkey during June showed a remarkable rise, which increased by 209.7%, recording the highest number in its history during June in years.
The financial support provided by the Turkish government to the sector in light of the economic plan to confront the Corona pandemic, according to the Minister of Treasury and Finance, played an active role in reviving real estate sales and revitalizing the construction field that activates more than 250 other sub-sectors.
What are the reasons for this turnout towards buying property in Turkey?
Most of the purchase processes of this June were indeed done by Turks,
However, for the past ten years, Turkey has remained a welcoming environment for foreigners who want to own property, especially the Russians, Arabs, Iranians and Afghans, and despite all the interruption period that occurred because of the lockdown due to the Corona pandemic and stopping the international aviation that prevented the arrival of foreign investors.
The real estate sector in Turkey has managed to keep going, whether by online purchasing of properties or directly by foreigners residing in Turkey who want to expand their investments and double their capital.
Unlike all other sectors, the real estate sector is one of the few resilient sectors that are not easily affected by the economic crises experienced by countries, and during the Corona pandemic crisis, the real estate sector in Turkey proved that it is stronger than expected by achieving a record that exceeded the last eight years.
There are several reasons for the strong Turkish real estate sales, the most important of which:
- The real estate sector has a great position in the global market and has the trust of the foreign investor
- The large demand for independent homes during this period due to the Corona pandemic and the desire of many families to live in independent places due to the quarantine that depends on the principle of social distancing.
- The rapid growth, diversification, and competitiveness of the Turkish economy in the market compared to other economies.
- The large number of real estate projects that are guaranteed by the Turkish government and the many features they have such as attractiveness, good quality, and commitment to delivery dates.
- Low living costs as living expenses in Turkey are the lowest in the world.
- Lower costs when buying property in Istanbul or Turkey in general, whether in terms of prices, taxes, or fees.
- High returns of real estate investment in Turkey which is proved by the experiences of many Turkish and foreign investors
- Turkey has an excellent location and a charming nature that makes its buildings distinct from others in the world.
- Turkey contains large vital facilities such as the Istanbul airport, the largest airport in the world, Istanbul water Canal, its giant bridges, its technological city “Techno Park” and other mega projects.
- Turkey is distinguished by its charming nature and wonderful climate, which makes it a favorite tourist destination for people from around the world, thus the need for hotel and tourist apartments increases, and this motivates investors to buy more property in Turkey to re-rent them in tourist seasons.
With this figure registered in June 2020 for the property sales in Turkey, the Turkish real estate market has achieved a new record, at a time when other countries in the world are witnessing a noticeable decline in the real estate sector and a decline in its sales due to the consequences of the Corona pandemic.