Turkish Properties and the Global Market

Turkish properties and the global market
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Foreign investors are a key player in the Turkish properties market.

The number of foreign investors in Turkish properties has increased after the amendments the government made to the laws of real estate investment in Turkey.

The Turkish real estate market takes an important place due to it being a channel bringing foreign currencies to the country.  Which reflects positively on the Turkish economy.

If we look at the numbers about real estate sales to foreigners in Turkey, we can say that it constitutes 3% of the total number of properties sold in Turkey.

 Turkish Properties for Foreigners

In general, Turkish properties are attractive to foreign investors from all over the world.

These investors are usually looking for either short-term investments or long-term.

The security that Turkey offers to these investors and their families besides other factors such as:

  •  beautiful nature
  • the advanced health sector,
  • education sector
  • infrastructure

are all factors among many that attract these investors.

Turkish real estate pioneers are still researching and opening up to the global real estate market with the aim of attracting large real estate investment establishments.

Furthermore, the past two years have witnessed a remarkable development in attracting global real estate investment companies,

as the Turkish real estate sector witnessed the entry of many property investment companies from China and Iran in particular.

Turkey is currently ranked among the top ten in the world in terms of the most attractive countries for foreign property investments.

This classification comes within a global real estate investment market of more than 400 billion dollars.

America is a leader in this field with sales of more than 50 billion dollars,

followed by England, with sales of at least $ 35 billion.

Countries such as Spain, Portugal, and Greece are also among Turkey’s competitors.

Turkey is seeking to enter the list of the top five in the world in selling real estate to foreigners.

Statistics and figures

 According to the statistics of the year 2019, 45 thousand properties were sold

to foreigners in Turkey with a value of more than 6.7 billion dollars.

Despite the decrease in the number of sales in 2020, with 40 thousand properties sold to foreigners,

the value of real estate sales exceeded 7 billion dollars.

This indicates the following:

  • the strength of the Turkish real estate sector
  • its ability to successfully overcome the Corona crisis

despite the conditions of quarantine, the suspension of flights, and the difficulty of travel procedures around the world.

During the past year, Turkish real estate witnessed a turnout of 184 nationalities.

On the one hand of the countries that are most popular to buy real estate in Turkey during the year 2020 are:

  • Iran which comes first with 17.5%
  • Iraq with 16%
  • Russia with 7.5%
  • Afghanistan with 4, 5%.

On the other hand, 2020 also witnessed the entry of new nationalities in the list of those wishing to own property in Turkey, such as:

  • China
  • Nigeria
  • Dominica
  • Pakistan
  • Bangladesh
  • Senegal
  • some European countries.

The turnout from Middle Eastern countries is the highest due to political or economic instability which some countries are witnessing in that part of the world.

All these factors and numbers make the Turkish properties market one of the fastest-growing sectors in the region and in the world.

Despite the global crises, Turkey continues to grow at all levels, making it a preferred destination for many foreigners who wish to benefit from this growth, whether at the economic, health, or educational level.

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