Real Estate Sales in Turkey are Witnessing an Unprecedented Rise

July 2, 2022
Realestate

When we talk about the state of Turkey, we are talking about a country that brought together the two sides of Asia and Europe, and it is considered one of the countries with the legal, commercial and societal capabilities that attract every tourist and visitor, in addition to the economic possibilities that attract everyone who goes to it, which caused real estate sales in Turkey to witness an unprecedented rise, and this is what we will learn in the following lines.

Important information about real estate sales in Turkey

The real estate investment market in Turkey had witnessed great popularity and activity in the past few years, as thousands of foreign investors flock to Turkish lands every year, with the aim of buying and investing in a property in Turkey, or housing and living, and these numbers are increasing day by day to this time.

The latest statistics that were conducted have shown that there is a significant growth in the rate of real estate sales and investments in Turkey, as foreign investors have purchased 4,285 properties, with an increase in real estate sales rates of approximately 28% compared to real estate sales in the preceding years, which raises the question about the reasons why real estate sales in Turkey are witnessing an unprecedented rise.

High rates of real estate sales in Turkey

The rate of real estate sales in Turkey has increased to nearly 190012 properties, and the average real estate sales in the preceding year was 61,355 properties.

This means that the percentage of sales has increased by up to 209% during one year, and certainly this percentage is considered to be very high according to the rules of the economy and buying and selling.

Reasons for the popularity of real estate sales in Turkey

During 2021 and two years after the new Corona pandemic, which left behind serious effects on the entire global economy and not only the economy of Turkey, as various investment sectors were affected by it, but the suffering of the real estate investment sector in Turkey was reasonably limited, because it occurred In specific months, which are the months of April, May and June of the year 2020.

This occurred as a result of the sudden suspension of civil aviation flights to and from other countries, which caused the disruption of many real estate investment plans and projects that had been developed by foreign investors.

As for the year 2021, the real estate investment market in Turkey witnessed a clear recovery and rise, and of course it can be asserted that the recovery of real estate investment in this year is due to the recovery of the real estate sector in Turkey from the effects of the Corona pandemic worldwide, and also due to the precautionary measures taken to reduce Corona virus, and controlling it, all of these factors helped increase the rates of foreign investors’ interest in buying real estate in Turkey.

The great success achieved by the State of Turkey in real estate investment is evidenced by the results of the sale of real estate in Turkey in 2022 AD which has increased the percentage of foreign investors to invest in Turkish lands in an unprecedented way, breaking all records.

Effects of increasing real estate sales in Turkey within a year

All expectations indicate that the recovery of real estate investment in Turkey in 2022 AD will have positive effects on real estate investment in the future, but it also depends on the preparations that must be taken to face the challenges that may hinder the movement of real estate investment in Turkey.

These preparations include the continuation of air flights between Turkey and other countries, especially with the summer season.

Challenges facing foreign investors during real estate investment in Turkey

There are many challenges facing foreign investors in the real estate market in Turkey, as the real estate sector has dealt with the economic shock that Turkey and the whole world has been subjected to during the recent period, but there are still a good number of challenges facing foreign investors in Turkey, which are divided into two parts, namely:

Many facilities when buying a property in Turkey:

This includes the increased facilities during the procedures for owning real estate units, returning to the so-called real estate exhibitions and their spread inside and outside Turkish territory, and working to increase advertising campaigns and advertisements for real estate, with the aim of encouraging real estate investment in Turkey, and finally creating great competition between construction companies in Turkey, which It provides an opportunity for encouraging real estate investment offers for foreigners.

The return of the great demand for the purchase of real estate:

These challenges include the return to life of university students in Turkey, which revitalizes the student housing market again, working to improve the quality of the tourism sector, because of its importance and great impact on the continuity of real estate sales in Turkey, and finally working to raise the quality of the commercial sector, which contributes to increasing The number of companies, offices and shops, which raises the rates of real estate investment in Turkey for the purpose of commercial investment.

The most important cities in which the foreigners are looking for real estate investment in them

If we are talking about the country of Turkey, there is no doubt that Istanbul always comes to the fore. The Turkish city of Istanbul has recorded the largest percentage of real estate sales during the previous years, and there is no doubt that the attractiveness of Istanbul, its distinctive vitality and the availability of modern life in it are the main reasons behind its attraction for real estate investment. .

After that, the city of Ankara achieved an increase in the percentage of real estate sales, and this happened after the Arabs from Iraq and Iran turned to Ankara because it was their favorite.

As for the state of Bursa, the rate of real estate sales has increased due to the decrease in real estate prices there, and on the contrary, the real estate investment rates have decreased in the state of Antalya, due to its dependence on the popularity of tourism.

Real estate investment over the past years

There is no doubt that the Turkish government has succeeded in managing all the crises that passed during the previous periods, and decreased the negative effects resulting from them, and negatively affecting various sectors of the state, especially the real estate sector, as this led to the influx of foreign investors into the real estate market in Turkey and adapting to the possibilities available to buy and invest real estate.

Real estate sales in Turkey declined for the first time in 2021, as they witnessed their lowest level during the past seven years, and start rising again quickly, as real estate sales in Turkey in 2022 AD increased by more than double what they were before, thus real estate sales levels are starting to return to normal in Turkey.

Confidence of foreign investors in the real estate investment market in Turkey

There is no doubt that the foreign investor often trusts the completed and secured properties as well, and the foreign investor’s interest and confidence in the Turkish state enhances his right to apply for Turkish citizenship.

Based on all of the above, we can say that the real estate market in Turkey is the destination of many foreign investors due to its rather unique characteristics and its combination of a large number of advantages that each investor is looking for, and thus we have explained the reasons and repercussions that made real estate sales in Turkey is witnessing an unprecedented rise, at the present time.