Foreigners continue to buy properties in Turkey
With the beginning of 2023, foreigners continue to buy properties in Turkey and establish their investment projects. In this article from Ebla Real Estate, we will talk about the reasons that motivate foreigners to continue owning real estate in Turkey, as we will show the most prominent figures and statistics on this matter.
Foreigners continue to buy properties in Turkey:
Turkey enjoys a vital and strategic location, and it is also among the best tourist and historical countries in the world, in addition to its economic and political strength. Moreover, the Turkish government supports foreign investors and provides many privileges. Therefore, the Turkish real estate market is witnessing a great and continuous demand by foreign investors as many of them buy properties and establish investment projects.
Foreigners continue to buy properties in Turkey despite the amendments to Turkish Citizenship Law:
The growth of real estate sales to foreigners in Turkey continued, despite the amendments to Turkish Citizenship Law that took place in the middle of last year, which stipulated raising the minimum investment value required to obtain Turkish citizenship from 250 thousand dollars to 400 thousand dollars.
In general, this increase has not made a difference to foreigners, as they can invest more in Turkish real estate and make more profits. At the same time, they can obtain Turkish citizenship and benefit from its advantages.
Statistics of real estate sales to foreigners in Turkey in 2022:
The percentage of real estate sales to foreigners in Turkey in 2022 has recorded an unprecedented increase. At the beginning of 2022, real estate sales to foreigners increased by 56% compared to the beginning of 2021.
Moreover, in mid-2022, the percentage of real estate ownership in Turkey for foreigners increased by more than 235% compared to mid-2021. Istanbul ranked first in terms of the best-selling cities for real estate in Turkey, followed by Antalya and then Bursa.
With regard to the nationalities that buy the most properties in Turkey.. Russians ranked first, followed by the Iranians in second place, and the Iraqis in third place.
Thus, the demand for real estate purchases in Turkey continues at an upward pace.. Especially among foreign investors wishing to purchase property in various Turkish cities.
Reasons that motivate foreigners to continue buying properties in Turkey:
- Turkey has a strategic geographical location as it is a natural bridge between Asia and Europe.
- Moreover, the real estate market in Turkey is one of the best real estate markets.. Due to the great successes and the high profits it provides to foreign investors.
- The strong economy which makes Turkey a pioneer in the field of real estate investments and urban transformation projects.
- Furthermore, there are diverse options of real estate that meet all foreigners’ needs and desires.
- Additionally, Turkey includes many urban expansion projects, built to excellent standards with the latest equipment and the best services.
- Obtaining a residence permit.
- Obtaining Turkish citizenship, and this one is one of the most important reasons that motivate foreigners to own real estate in Turkey.
- Moreover, Turkey is an advanced country in terms of infrastructure, transportation, education and health.
- Additionally, the cost of living in Turkey is a lot cheaper than EU countries or the US.
- The prices of luxury properties in Turkey are also affordable.
- The ease of real estate ownership procedures in Turkey and the ease of Turkish laws
- Government support for foreign investors in Turkish real estate.
- In addition, properties in Turkey are characterized by charming sea and mountain views that meet all the buyers’ tastes and needs.
Thus, we saw that foreigners are buying more and more properties in Turkey. It is worth noting that Ebla Real Estate provides real estate services in Turkey, so to buy a property in Turkey, do not hesitate to contact us.
Edited by: Ebla Group Real Estate
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