Real Estate

All-time record was broken in house sales to foreigners

The number of residences sold to foreigners in Turkey in the first half of this year increased by 44% compared to the same period of the previous year to 20 thousand 488, and this figure was recorded as the best January-June data of all time.

According to the information compiled by AA correspondent from the data of the Turkish Statistical Institute, house sales in the first half of the year decreased by 11.5% compared to the same period of the previous year, and were recorded as 552 thousand 810.

Despite the decrease in house sales in this period, the increase in sales to foreigners was remarkable. The sales, which followed a fluctuating course in the said period, were recorded as 2 thousand 675 in January, 2 thousand 964 in February, 4 thousand 248 in March, 4 thousand 77 in April, 1776 in May and 4 thousand 748 in June. Thus, the sales of residences to foreigners reached 20 thousand 488 with an increase of 44% compared to the same period of the previous year. This figure was 14,262 in the same period of last year.

In the January-June period, 10 thousand 108 houses were sold to foreigners in Istanbul, followed by Antalya with 3 thousand 990, Ankara with 1276, Mersin with 951 and Yalova with 584.

During this period, Iranian citizens bought the most residences with 3 thousand 70 units. The Iranians were followed by the citizens of Iraq with 3 thousand 19 residences, Russia with 1759, Afghanistan with 1277 and Germany with 726.

“Trabzon and Samsun entered the top 10 in June”

Omer Faruk Akbal, President of the Real Estate Overseas Promotion Association (GIGDER), said that the houses sold to foreigners increased by 185% on an annual basis in June and by 44% in the first 6 months, adding that the increases were a morale booster for the sector.

Akbal stated that the gaining of social immunity through the vaccination process, the gradual increase in flight traffic and tourism performance had positive effects on the real estate sector.

“Samsun and Trabzon were among the 10 cities where foreigners bought the most housing in June. Foreigners invest not only in Istanbul, Antalya and Mugla, but also in different regions such as Samsun and Trabzon during the summer period in Turkey. The climate and natural conditions make the Black Sea coastal cities, especially these two provinces, preferable. These cities, which are located in a location where green and blue meet, especially for buyers from the Middle East and North African countries, are also attractive in terms of purchasing real estate, housing and land, with features such as housing prices being more affordable compared to cities such as Istanbul and Antalya, convenience of transportation and absence of city chaos, tourism centers and nature parks.”

Akbal added that in this period when buyers from Europe to the Middle East diversified, Canada was also included in the list, and that this was not a surprise, and that new countries could be seen on the list in the future.

“The first 6-month figures herald the year-end record”

Helmann Yapi Chairman of the Board Selman Ozgun stated that the sales figures approached the 5 thousand band in June and said that the 6-month figure exceeded 20 thousand for the first time in history and realized as 20 thousand 488.

Expressing that this success, which was achieved in June just before the start of the tourism season, made the industry happy, Ozgun said, “The first 6-month record is also the harbinger of records at the end of the year. Thanks to factors such as the summer season, the opening of the tourism season and flights, and the removal of restrictions, our expectation for the end of the year is at least 50 thousand units.”

Noting that they expect Turkey’s revenue from sales to foreigners to be $7 billion this year, Ozgun made the following assessments:

“The target for 2025 in sales to foreigners is $20 billion. We are doing our best to increase both sales figures and income. Sales of real estate to foreigners is very important in terms of earning foreign currency directly to the country. In this regard, Turkey has very important advantages such as closing the current account deficit and contributing to the economy by spending much more on the accommodation of foreigners who buy a house. There is demand for housing from almost every corner of the world. As manufacturers, while answering these demands, we should highlight projects that respect nature and people, focus on green, and have horizontal architecture.”

“The increase in sales to foreigners has been the lifeblood of the sector”

Tamer Ozyurt, Chairman of Ozyurtlar Holding, said that the figures show that the foreign investor’s point of view towards Turkey has not changed, and that he has confidence.

Expressing that the increase in the exchange rate makes the prices attractive for foreign investors, Ozyurt said, “We anticipate that the increase in housing sold to foreigners will continue. This is the lifeblood of the sector.”

Akkus Group Chairman of the Board Abdulkadir Akkus stated that they entered the branding of expats during this period and made the following statements:

“The epidemic has completely changed the expectations of foreign investors and expatriates as well as domestic investors. Foreign investors want to move their lives and businesses to our country. With the expectation of an isolated and safe life, it turns to projects with large balconies and gardens, located in central locations. The full opening of the tourism season and these factors will further increase the housing sales figures.”

“The budget allocated by foreigners for housing increased by 20% compared to the pre-epidemic”

Bahas Holding Chief Executive Officer (CEO) Abdussamet Bahadir also noted that the decrease in domestic sales in June was temporary and said that they will increase again in the future.

Bahadir said, “It would be a very realistic attitude to be optimistic about the near future, especially in these times when the tourism sector is starting to mobilize and expatriates are entering the country. With the interest of expatriates, the indicator of the sector in the recovery process will turn higher.”

Ihsan Culhalik, Chairman of the Board of Directors of Insay Yapi, stated that the change in home buying preferences due to the epidemic also affected foreign investors and expatriates, and gave the following information:

“Foreign investors started to prefer residences with large balconies and especially gardens with the effect of closure and longing for nature after the epidemic. The increase in demand for such houses caused the investment budgets to be increased along with it. 10% of the investors who come to us to buy a house are foreigners and expats. The investment budget allocated by the foreigner to buy housing also increased by around 20% compared to the pre-epidemic period.”

Source: AA / Translated by Irem Yildiz

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