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In numbers | Foreigners' Demand for Turkish Real Estate Increases

Demand for Turkish real estate by foreign investors is increasing yearly, according to data of the General Directorate of Land Registry and Real Estate Survey, the number of foreigners who bought real estate in all Turkish cities is 167255 foreign citizens, in the past 9years only

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2019-12-13 Last update 2020-02-13

In numbers | Foreigners' Demand for Turkish Real Estate Increases

The demand for Turkish real estate by foreign investors is increasing year after the other, and according to data of the General Directorate of Land Registry and Real Estate Survey, the number of foreigners who bought real estate in all Turkish cities is 167 thousand and 255 foreign citizens, during the past nine years only.

 

Iraqis, Russians, and Kuwaitis are among the most-buying nationalities of Turkey's real estate

 Iraqis ranked first among the foreigners mentioned in this statistic.

Statistics issued by those specialized in real estate showed that the number of Iraqis who have purchased real estate from Turkey in the past nine years from January 2010, until October 2019, reached 24 thousand 393 Iraqi citizens.

Russians came second after Iraqis, where the number of foreigners of Russian nationality who purchased real estate in Turkey in the last nine years reached 15769 Russian citizens.

Iranians were in the third rank, where the number of Iranian citizens who bought real estate and apartments in Turkey in the mentioned period is 11374 Iranian citizens.

Then, British citizens came after the Iranians, where the number of British citizens who bought properties in Turkey during the mentioned period is 10760 British citizens.

Kuwaitis ranked fifth, where the number of Kuwaiti citizens who purchased a property in Turkey reached 10401 Kuwaiti citizens.

Real Estate Turkey

Istanbul is in the first rank among the Real Estate in Turkey!

Istanbul ranked first among the Turkish states in which foreigners preferred to carry out their real estate investments, where the number of investors who chose Istanbul as a place for real estate investment reached 55393 foreign investors.

Antalya ranked second after Istanbul, where the number of investors who chose Antalya as a center for their real estate investment reached 50040 foreign investors. 

While Gaziantep ranked last, with only 392 investors chose to invest in real estate in it.

 

Investment Desire Increases Steadily

The last nine years witnessed a remarkable increase in foreigners' demand and desire for real estate investment in Turkey, where the figures indicate that the investors' desire to invest in the Turkish real estate sector is increasing day after year, and year after year.

Real Estate Investment in Turkey.

 

The number of investors who have invested in the Turkish real estate market since March 2018 reached 147 thousand investors and the number of properties invested reached 68319.

  • While the price of real estate invested by foreigners reached 1 billion 622 million 579 thousand TL in 2013.
  • This figure reached 2 billion 833 million 994 thousand 677 TL in 2014.
  • 3 billion 875 million 100 thousand and 523 TL in 2015.
  • 3 billion 493 million 724 thousand 531 TL in 2016.
  • In addition to 6 billion 534 million 76 thousand 466 TL in 2017.

These figures clearly shows that the demand for real estate investment in Turkey has witnessed a steady increase recently, but it has achieved qualitative leaps in the last three years, which witnessed decisions by the government encouraging investment in real estate in Turkey, like the decision: reducing the value of property required for obtaining the Turkish citizenship from $1 million USD to $250 thousand USD only, in addition to many important decisions, such as deductions, tax exemptions, and others.

For more information about Turkish citizenship laws and their amendments, see our article: Exclusive Translation of the Most Important Turkish Citizenship Laws

Edited by: Imtilak Real Estate ©

Source: Emlak Kulisi

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