Real Estate

Highest November property sales in history to foreigners despite the pandemic

While 20 thousand houses were sold to foreigners in the last 4 months, this indicated an increase of 21% compared to the same period of the previous year.

In the sale of houses to foreigners, despite coronavirus (Covid-19) pandemic, the highest November figures in history were reached with 4 thousand 962 units.

Housing sales to foreigners, which increased by 14% in the first quarter of the year compared to the same period last year, remained lower in April, May, June, and July compared to the same months of 2019, due to the worldwide impact of the pandemic and restrictions.

Housing sales to foreigners accelerated in August. Sales figures were higher in September and October than in the same months of the previous year. Despite the pandemic in housing sales to foreigners, the highest number of November in history was reached with 4 thousand 962 units. While 19 thousand 382 houses were sold to foreigners in the last 4 months (August-September-October-November), this figure was 16 thousand 41 in the same period last year. Thus, an increase of 21% in the last 4 months in foreign housing sales was recorded.

Istanbul maintained its first place in foreigners’ preference for housing. Foreigners who bought 1,885 houses from Istanbul in November last year became the owner of 2,443 houses in the same period of this year. Housing purchases of foreigners from Istanbul increased by 30% in November 2020 compared to the same period last year.

Antalya became the second most preferred city for foreigners with 893 houses sold. Antalya was followed by Ankara with 297 houses, Yalova with 182, and Bursa with 174 houses.

Iranians bought the most houses in 11 months

In the January-November period of this year, 16 thousand 867 houses in Istanbul, 6 thousand 946 in Antalya, 2 thousand 473 in Ankara, 1.242 in Bursa, and 1.190 in Yalova were sold to foreigners.

In November, Iraqis bought the most houses with 876 units of houses in Turkey. In second place were Iranians with 860 houses, and third place was Russians with 434 houses. In 11 months of the year, Iranians bought the most houses with 6,425 units. The Iranians were followed by Iraqis with 5 thousand 950 houses and Russians with 2 thousand 729 houses.

“We differentiated positively compared to many countries”

Real Estate International Promotion Association (REIPA) President Omer Faruk Akbal, said in a statement to AA reporters, “November sales figures showed Turkey’s position in the international real estate sales and how much it differentiated in a positive sense despite the effects of the pandemic.”

Akbal stated that the 11-month sales figures exceeded 36 thousand and that this reached 40 thousand units, confirming the predictions that the year will be overcome with the least loss.

Stating that they are a country that differentiates positively compared to many countries at this point, Akbal made the following evaluations:

“With the pandemic, while 80% losses in Greece and 40%-50% losses in Spain and Portugal were experienced we will overcome this situation with nearly 10% losses. This has shown once again how much we stand out among our international competitors with our many advantages such as health, life, geography, and culture in such a challenging process caused by the pandemic in the world.”

Akbal said that the rise in international real estate purchases always kept the morale of the sector high in an environment where sales in the domestic market decreased due to the increase in interest rates.

“Our year-end expectation is 41 thousand”

Nazmi Durbakayim, Chairman of the Board of Directors of the Istanbul Constructors Association, stated that they expect to reach 41 thousand in housing sales to foreigners at the end of the year, despite the pandemic.

Stating that they will remain below the record sales level of 45 thousand 483 units last year, Durbakayim emphasized that they will still reach an important number and this is a success.

Durbakayim said: “In addition, the number of houses that our fellow citizens living in Europe, especially in German, and who have dual citizenship bought by taking advantage of the exchange rate is more than the annual total sales to foreigners. This is very important for our industry.”

“With the steps taken, the acceleration of foreign investors returned to our country”

Tamer Ozyurt, Chairman of Ozyurtlar Holding Board of Directors said that Turkey’s well-coordinated system of health and successful pandemic management mobilized the foreign investors. 

Ozyurt stated that the demand, which increased in August, maintained its dynamism with an increase of 24.4% in November.

“In the face of the rising foreign exchange prices in November with the steps taken by our country, the pointer turned to our country more in foreign investor demands. Citizenship for foreign investors, which was put into effect to keep our industry alive for foreign investors, has been shaping the demand for the last 3 years. So far, 7 thousand 312 foreign investors from 93 countries gained Turkey citizenship by investing $1 billion 880 million in the real estate and construction sector. Foreign investors do not only invest in our sector by purchasing housing. At the same time, it creates new business potential by investing in other sectors in our country.”

“The idea of living in Turkey is becoming increasingly popular”

Abdulkadir Akkus, the Chairman of the Board of Akkus Group, said that the increasing demand for foreign investors in real estate has become permanent in 4 months.

He said, “This increase experienced under the difficult conditions of the pandemic is the token of success of our industry as well as an indicator of confidence in the economy of Turkey. “

Akkus expressed that the messages of confidence given to international markets by the new economic administration and especially President Recep Tayyip Erdogan were responded to. He added saying, “The announced reform plans direct investors to our country. The idea of living in Turkey is becoming increasingly popular. The citizenship right we offer them also makes investment in the sector even more attractive. “

“We will see the second highest annual sales in history”

Helmann Construction Chairman of the Board of Directors Selman Ozgun stated that living in Turkey provides people comfort and peace and Turkey’s beauty and climate conditions attract foreigners to reside.

Expressing that foreign investors are interested in the Turkish real estate sector despite the negative effects of the pandemic in the world, Ozgun made the following evaluations:

“Even under pandemic conditions, there was a serious increase in housing sales to foreigners, especially in the second half of the year. Besides the beauties and offers Turkey provides, criterias such as the fight against coronavirus, Turkish citizenship right, and the exchange rate were effective in this. We will close the year with over 40 thousand sales. Last year, the highest residential sale to foreigners in history was realized. Despite the pandemic, we will get closer to 2019 sales and the second highest annual sales in history will be seen. “

“Africa and Asian countries are on the rise”

Bahas Holding CEO Bahadir Abdussamet said that foreign investors found the peace and security they seek in Turkey and reported that the proportion of residential purchases in housing purchases has increased.

Stating that the steps regarding democracy and legal reform will positively affect the purchases of foreigners, Bahadir said, “Our industry is demanded not only from the Middle East, but from all over the world. There is also the rise from African and Asian countries.”

Ihsan Culhalik, Chairman of the Board of Directors of Insay Construction, stated that the Turkish real estate sector now attracts investors from almost every part of the world, and said that the demand for housing can double as a result of the strengthening of trust and peace with the reforms to be made.

Source: AA / Translated by Bazaar Times Team

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