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Rise in Turkey Properties/Apartments Sales in December 2019

Properties sales in Turkey in general and the investment sector in residential apartments, in particular, have experienced a quantum leap in recent years

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2019-12-06 Last update 2020-04-03

Rise in Turkey Properties/Apartments Sales in December 2019

Properties sales in Turkey in general and the investment sector in residential apartments, in particular, have experienced a quantum leap in recent years. It started with a package of amendments related to real estate sales to foreigners in Turkey in the year 2012, and this leap was manifested in the interest of foreigners in buying real estate in Turkey.

This demand reached a peak in which it achieved unprecedented numbers, after the issuance of decisions granting property owners the right to reside in Turkey. However, it gives the real estate investor who owns a real estate with 250 thousand dollars the right to obtain Turkish citizenship.

Real estate sales

A marked increase in real estate sales in Turkey

Between 2011 and 2018, the real estate sector in Turkey achieved an income of nearly $ 29 billion, as the number of investors who owned properties in Turkey reached 22,830 foreign investors in 2015. In addition, the number of foreign investors who invested in Turkish real estate reached 18,189 in 2016.

Moreover, their number reached 22,234 foreign investors in 2017, which is considered a return to the real estate investment sector activity, after a recession in this sector coinciding with the political conditions in Turkey during the coup attempt.

After this return, the real estate sector witnessed a steady increase in foreign ownership of properties in Turkey, as the number of foreign investors in the real estate sector reached 39,663 in 2018.

Real estate sales in Turkey

Progress in real estate sales to foreigners in Turkey

The real estate investment sector in Turkey continued its progress this year, as the number of apartments sold to foreign investors reached 31 thousand and 925 apartments in the first 9 months of this year 2019.

As for the sales of the third quarter of the current year 2019, the real estate sector indicators report mentioned that the real estate sales of foreigners Turkey reached 31 thousand and 925 apartments in the third quarter of 2019, achieving an increase of 32.2% over the same period of the last year 2018.

Foreigners’ nationalities have varied, and the 10 most countries whose citizens bought apartments in Turkey in the third quarter are as in the following table:

Country

The number of citizens who bought apartments

Total area of purchases in square meters

Iraq

4818

330733

Iran

2634

136495

Saudi Arabia

1480

397471

Kuwait

1406

191067

Germany

1149

284054

England

912

195132

Jordan

900

486560

Azerbaijan

790

1.263.274

Yemen

490

243105

Palestine

407

278861

The Arabian Gulf countries combined achieved 43% in terms of the number of citizens who bought apartments from Turkey. 32% is the percentage of apartments’ areas they bought of the total apartments’ area sold to foreigners in the third quarter of the current year 2019.

Turkey real estate sales

Edited by: Imtilak Real Estate ©

Source: Real Estate Sector Indicators Report

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