Imtilak Properties

A recent report by Istanbul Contractors Association on the current state of the real estate sector in Turkey has been published.

According to reports from the Turkish Statistical Institute, 890,430 apartments were sold between January and August this year. Sales figures for the year show an increase of 7.68 percent over the same month last year.

There was an increase in apartments sold in August, and there was an increase of 4.75 percent this month compared with the same month last year.

Another source found that there was an increase in the percentage of sales to foreigners during the last 8 months, by 11.38 compared to the same period last year.

A total of 1,648 apartments were sold to foreigners in August, while the total number of apartments sold during the last 8 months was 1,3005.

Real estate representatives point out that sales will increase further by the end of this year, and a record will be broken in this context.

The report also shows that sales of real estate have increased significantly due to the facilities and exemptions provided by the Turkish state, tax reductions and the possibility of obtaining Turkish citizenship if purchasing an apartment of 1.5 apartments per day.