The Turkish real estate market 2020 is expected to exceed all expectations.
The Turkish real estate market is one of the busiest markets in the world.
Turkish Real Estate 2020
In order to discuss the expectations of the Turkish real estate 2020,
it is inevitable to discuss the achievements in the market in 2019.
The Turkish real estate market is known for its diversity as well as the fact it covers a huge area.
The Turkish Real Estate Market 2019
The real estate market in Turkey 2019 had a 14.7% increase compared to the previous year.
The increase came from both the local and foreign investors.
1.35 million properties were sold in 2019 in Turkey,
of which 45500 properties were sold to foreigners.
This increase came due to many factors;
- The new legislation attracted more foreign investors to Turkey.
- The convenient investment climate in Turkey in addition to its strategic location.
- The strenuous efforts real estate agencies have submitted in order to bridge the gap between the seller and the foreign buyer.
- The drop in the local currency in regards to the US dollar and Euro made the properties in Turkey among the cheapest in Europe.
- The nature of the Turkish community makes it easy for foreigners to settle down and establish businesses.
- The stability of the Turkish real estate market.
The Turkish Real Estate 2020
Economists expect the Turkish real estate 2020 to flourish even more.
The Turkish real estate market in 2020 is going to attract huge Asian markets like China.
The Chinese investments in Turkish real estate will expand in 2020 as a continuation of the success it achieved during 2019.
Iranian investors are also heading to Turkey.
Observers believe that the Iranian investments to break all records in 2020.
More investors will be choosing turkey to settle down and establish businesses due to the stability of the Turkish economy, the fast growth rates, and the positive estimates.
Furthermore, the decrease of interest rates that encourages local investors to invest in real estate will be one of the contributors to the Turkish real estate market Turkey in 2020.
Turkish cities connected to real estate investment in Turkey 2020
It is still in the first place regarding the number of properties foreign investors bought.
Due to its strategic location and moderate climate, Istanbul has been the number one destination for foreign investors.
The continuous work on mega infrastructure projects in the city will drive more investments.
The high demand for rent in the cosmopolitan city is also a contributing factor to the high demand for real estate investment in Istanbul.
It comes second regarding the number of properties sold to foreign investors.
the real estate market in Antalya achieved a 19% increase until September 2019.
Many investors choose Antalya due to the reasonable property prices in it as well as the beauty of the Mediterranean city.
Experts expect the city to register an increase in the number of sold properties in 2020.
The number of properties in Ankara will increase in 2020 due to the increasing importance of the city.
In addition, there are many other cities like Bursa, Yalawa, Sakaria, and Trabzon that foreign investors choose.
The aim in 2020 is to break all records of properties sold in 2020.
Property sales for foreigners in Turkey in 2020 will reach up to 20 billion US dollars.
This number seems very possible with the coming of the Russian, Chinese, and Iranians to the real estate market in Turkey in 2020.