Real Estate

Turkey: The highest January figures in history in house sales to foreigners

According to the data announced by the Turkish Statistical Institute, the number of house sales to foreigners in January 2022 was 4 thousand 186 and the highest January data of all time was recorded. So, what did the sector representatives say about the latest situation in housing sales to foreigners?

According to the data announced by the Turkish Statistical Institute, the number of house sales to foreigners in January 2022 was 4 thousand 186 and the highest January data of all time was recorded. According to the information obtained by the AA correspondent from the highly anticipated data of TUIK, the housing sales figures for foreigners increased by 56.5% in January 2022 compared to January 2021 and amounted to 4,186.
In January 2022, the share of residences purchased by foreigners in the total sales figures was 4.7%, while Iranians bought the most residences with 761 units in January 2022. Iranian citizens were followed by Iraqis with 513 housing purchases and Russian nationals with 479.

While Istanbul was at the top of the house sales statistics with 1,771 houses, foreigners bought 914 houses in Antalya, which is the favorite of tourists, and 269 in the capital Ankara. The number of sales to foreigners recorded as 4,186 in January 2022 was the record for all January months. When this number is evaluated according to January, it was 2,675 in 2021, 3,907 in 2020, 3,168 in 2019, 1,742 in 2018, and 1,386 in 2017.

“Substantial increase despite the slow season”

Omer Faruk Akbal, President of the Real Estate Overseas Promotion Association (GIGDER), commented on the house sales, and stated that there was a significant increase despite a period in which the figures were stagnant due to the winter conditions and the semester break.

Akbal said, “We experience that foreigners, whose currency appreciates with the increase in the exchange rate, turn to the real estate market without wasting time, and the market is expanding rapidly from the USA to Europe, from the Middle East to the Turkish Republics.”

Pointing out that these sales are predicted to increase in the coming days, Akbal underlined that the competitive income in housing continues to attract the attention of investors both at home and abroad.

Akbal pointed out that they found it beneficial to discuss the KGF supports for the construction sector as well, emphasizing that Turkey’s share in international direct investments in both real estate and industry and technology could reach a record.

“It was a good start for its 70 thousand goal”

Istanbul Builders’ Association (IDER) Chairman of the Board Nazmi Durbakayim emphasized that the share of sales to foreigners among the total sales is increasing gradually and said, “The purchases from Germany and England, which increased more than 2 times compared to the same period of the previous year, draw attention. So it was a good start for the 70,000 goal.”

Pointing out that the level, which was 3% on average in 2020, is approaching 5%, Durbakayim underlined that producers always look at the half-full glass. Durbakayim emphasized that they will continue to support every step to be taken by the public, and that private banks and raw material suppliers should also make sacrifices in order to maintain positive targets.

“It is very important to increase the number of European buyers”

Helmann Yapi Chairman of the Board of Directors Selman Ozgun underlined that such a figure is a number that will make the industry happy, despite the stagnant period of the year, emphasizing that the highest January figures of all time are seen.

In his evaluation on the subject, Ozgun said, “This figure, which was reached during the most stagnant period of tourism, clearly reveals the high level of foreign interest in our sector. It is also very important to increase the number of European buyers. Antalya maintains its place in the top 2. Continuing to increase direct flights will further revive foreign interest in real estate in the city, as in tourism.”

“We will see the numbers even higher at the end of the year”

Tamer Ozyurt, Chairman of Ozyurtlar Holding, also touched upon the positive impact of the increase in the exchange rate on sales to foreigners and underlined the attractiveness of real estate prices for foreigners.

Underlining that the highest share of direct investments in developed countries is in real estate, Ozyurt said, “More than half of the investments coming to these countries are realized in real estate. Real estate investments made by foreigners are one of the most important inputs for the growth of economies. A large part of foreign investors buy luxury housing. Exceeding the targets is an important result for both the country’s economy and the sector. We hope to see this figure even higher at the end of the year.”

Source: Emlakkulisi / Translated by Irem Yildiz

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