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Increasing the lower limit in real estate to $400 thousand will attract qualified housing investors to Turkey

Akzirve Sales Manager Hakan Sabbag said that increasing the lower limit to $400 thousand will attract qualified housing investors to Turkey in order to obtain citizenship rights to be given to foreigners through real estate sales.

Akzirve Sales Manager Hakan Sabbag stated that despite all the negativities, house sales increased by 20.6% and reached 134 thousand 170 in March, and this figure shows the confidence in housing investment despite increasing prices and high-interest rates.

Stating that there is still a high need for housing in Turkey, Sabbag said, “According to TUIK statistics, the tenancy rate has increased recently. Apart from investment purposes, criteria such as new marriages, university graduations, divorces, and the desire of young people to live alone make the demand for home alive. Investors protect themselves against inflation by investing in housing.”

Emphasizing that the house sales increased by 21.7% to 320 thousand 63 in the first quarter of the year, Sabbag said that this data shows that people want to own a house as soon as possible due to the rise in costs.

“THE FOREIGN INVESTORS’ TRUST IN OUR COUNTRY CONTINUES”

Hakan Sabbag, stating that Turkey has always been able to attract foreign investors thanks to the features it has, said that they have become the shining star of the world in recent years, especially in housing.

Noting that the sales figures for foreigners increased by 31% in March and 45.1% in the first quarter, Sabbag made the following statements:

“The highest sales figure of all time was reached with 14,344 units in the January-March period. Turkey broke a record in this field. These data show the trust of foreigners in our country. Turkey can always attract foreign investors. Especially, there is a significant number of foreigners who make purchases for both investment and residence purposes in our country. In addition, if we look at the housing purchases of Russians in March, we see an increase of 30.5%. That is, in line with the average. Contrary to the rhetoric, we do not see a decrease.”

Sabbag stated that increasing the lower limit to $400 thousand in order to obtain the right of citizenship to be given to foreigners through real estate sales will attract qualified housing investors to Turkey and said, “There will not be any decrease in sales.”

“OUR SALES INCREASED BY 35% IN MARCH”

Akzirve Sales Manager Sabbag stated that the sales of Topkapi 29 project increased by 35% in March and stated that they saw a significant activity.

Sabbag said that foreigners were also very interested in this special project they realized in Topkapi, the most valued and central point of Istanbul, and that the share of foreigners in their sales was 40%.

Emphasizing that Topkapı 29 project draws attention with its different areas from residences to commercial units, from social facilities to shopping malls and health complex, Sabbag said, “Our project has been designed as an ideal settlement and a brand new ecosystem that meets all needs. For this reason, it faces intense interest from foreigners as well as domestic investors.”

Source: Sabah / Translated by Irem Yildiz

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