Real estate sales to foreigners achieve remarkable figures in March 2022

The demand for real estate purchases in Turkey continues at an upward pace, especially among foreign investors wishing to purchase a property in various Turkish cities.

In the latest developments, the Turkish Statistics Authority said in a statement that Turkish real estate sales to foreigners recorded an increase of 31% last March, compared to the same month of 2021.

The total real estate sales during the same month amounted to 134,170 sales transactions, while the number of properties sold to foreigners reached 5,567, or 4.1% of the total properties sold in March 2022.

According to the Statistics Authority:

• Istanbul came first in terms of real estate sales to foreigners with 2,245 properties.

• In second place is Antalya with 1,434 properties.

• In third place is Ankara with 347 properties.

The authority indicated that the nationalities whose owners achieved a remarkable percentage of real estate purchases are:

• Iranians are in first place with 784 properties.

• Iraqis are in second place with 741 properties.

• And thirdly, the Russians with 547 properties.

• Fourth, the Germans, with 244 properties.

• Fifthly, the Kazakhs, with 241 real estates.

It is worth mentioning that the interest of foreigners and Arabs in buying apartments and luxury villas is concentrated in several areas of picturesque nature, most notably “Antalya, Bursa, Yalova, Sapanca, and Istanbul.”

It is noteworthy that in 2013, according to the “Knight Frank International” index, Turkey was among the 10 largest global markets in the growth of real estate prices, while the “Ernst & Young” real estate company, during the same period, ranked Turkey second place among the most real estate attractive markets in the world. the world.

It is noteworthy that one of the most important reasons why the real estate sector in Turkey is witnessing a remarkable recovery every year are:

• Benefit from Turkish citizenship.

• The vitality of trade and industry in Turkey.

• Turkey is distinguished by its mild climate, beautiful nature, and charming atmosphere that mixes civilization and history.

• The real estate sector has not been significantly affected by the global health pandemic compared to the rest of the countries in which all commercial, industrial, and investment sectors have been affected.

It is also worth noting, that the General Directorate of Land Registry and  Cadastre of Turkey announced the sale of 68,600 properties to foreigners in 2021, including 64,500 homes and 4,000 plots of land, with an estimated value of 40 billion Turkish liras, according to Anadolu Agency.

According to the same source, real estate sales to foreigners have increased significantly since 2018, as citizens of Arab countries and the Middle East consider Turkey a safe port for them.