Is everyone wondering if home sales in Turkey will rise? This question is natural because many people want to invest in real estate in Turkey, which is one of the most popular tourist destinations in the world in this article, we will look at the factors influencing the Turkish real estate market and predict whether or not the house market is likely to go up.
The expectations of an increase in home sales in Turkey
Home sales in Turkey are expected to rise during the coming period, according to official data indicating the recovery of the real estate sector in the country and statistics indicate that real estate sales in Turkey increased by 65% in February of 2021 compared to the previous month, and this is a positive sign regarding the stability of this sector.
It is worth noting that this rise is due to various factors, such as the depreciation of the Turkish lira, the increase in public spending on real estate projects, in addition to the new restrictions approved by the Turkish government to ensure the recovery of the real estate sector in light of the global health crisis and this makes expectations of a rise in home sales in Turkey shortly more realistic.
An increase of more than 65% in home sales in Turkey
The new statistic for 2022 shows a significant increase in home sales to foreigners in Turkey, with an increase of 56.5% compared to last year this increase is not in vain, but rather due to several factors, including the low value of the Turkish lira against foreign currencies, and the ease of procedures related to purchasing real estate in exchange for obtaining Turkish residence or citizenship and it seems that this rise will continue in the coming period, as the Turkish government recently introduced a package of measures to facilitate real estate purchases for foreigners and motivate them to invest in the Turkish real estate market.
Foreigners buy thousands of properties in Turkey
Official data in Turkey showed that home sales to foreigners in February 2023 amounted to 3,350 homes, down by 27% compared to last year and the data revealed that the Russians were the most homebuyers in Turkey during February, as the number of homes they bought reached 1,183, followed by Iran with 446, Iraq with 173, and the Ukrainians with 142 and in March, Russians, Iranians, and Iraqis bought about 3,415 homes in Turkey and Istanbul ranked first in home sales in March with 18,166, then the capital, Ankara, with 12,023, and thirdly, Antalya, with 6,120 homes.
Istanbul ranks first in home sales in Turkey
Home sales to foreigners in Turkey continue to rise, as Istanbul ranked first in the number of homes sold to foreigners and according to statistical data, more than 25 thousand homes were sold in Istanbul last year.
Other regions such as Antalya, Bursa, and Yalova ranked next and this achievement is a testament to the growing importance of Turkish real estate among foreign investors, and these sales will continue to grow significantly in the coming years.
Ankara and Antalya are in the second and third positions in home sales
Istanbul tops the list of cities where more homes are being sold in Turkey, followed by two other cities, Ankara and Antalya, respectively Ankara is characterized by a large number of international companies, government institutions, and their employees, which drives many to buy homes in it and the reason for Antalya's fame is due to its mild climate and beautiful beaches, which make it an attractive place for living and recreation.
Experts expect that these cities will continue to attract investors and buyers in the future and that the real estate market will witness remarkable growth with the increase in the number of residents in these areas, the demand for homes will increase and we will witness a rise in prices shortly, which confirms the importance of buying homes in these areas now before the prices rise.
A rise in the importance of real estate investment in Turkey
Real estate investment opportunities in Turkey are golden opportunities to reap profits, as this investment provides many advantages and renewable investment opportunities Turkey enjoys a very distinctive strategic location, and real estate investment in it is of high and distinctive investment value.
The mild climate and distinctive environment in Turkey make it an ideal destination for real estate investors in addition, Turkey has a very developed and modern infrastructure, which makes real estate investment more attractive and profitable therefore, real estate investment in Turkey is an excellent opportunity to reap profits and take advantage of the available investment opportunities
In general, Turkey is one of the most famous real estate destinations in the world, as its presence between Arab originality and Western modernity makes it a distinguished destination for real estate acquisition.
Turkish real estate is characterized by its availability at very reasonable prices compared to other European countries, and it also provides opportunities for real estate investment in addition to the availability of all means of luxury and excellent services.
Related Articles:
Areas to buy an apartment in the European side of Istanbul
Cheap Apartments on the Bosphorus for Sale