Turkey Real Estate Sales to Foreigners

Real estate Sales to Foreigners in Turkey

Real estate sales to foreigners in Turkey in recent years continues accelerating. There are many reasons for this acceleration.

In 2018, housing sales to foreigners have broke a record in the first 10 months of the year. Firstly, we look at the sales figures over the years regarding to real estate sales to foreigners, then we will be indicating from which country the demand is coming for the properties in Turkey and the most provinces at which the overseas sales has been made.

Real Estate Sales Data to Foreigners in Turkey

With no too much history, sales of real estate to foreigners in turkey in 2013 has been accelerated with the law of reciprocity expansion and by becoming practical. when we look at the sales figures by years, we see that sales has been increased continuously outside of 2016. In 2013, the sales figure was 12,181. This year will be the first year we received base in real estate sales to foreigners (Due to the The year of change in the law of reciprocity) Overseas sales figure in 2014 is 18,959. 22.830 in 2015, 18.189 in 2016, 22.234 in 2017, 30.431 in the first 10 months of 2018.

From Which Countries is the Demand in Real Estate Sales to Foreigners is Coming?

The demand for the sale of real estate to foreigners comes mainly from the gulf countries. When Looking at the information coming from the construction companies that sell abroad, it also corresponds with this information. when looking at TÜİK  real state sales reports with the fact that there are periodic small changes in it,  predominantly Iraq is in the first place in the sale of real estate to foreigners.

Iraq, Saudi Arabia, Iran, Kuwait, Qatar, Russia, Germany and the United Kingdom respectively. Regarding to the most preferred provinces in real estate sales to foreigners, we see that Istanbul is the most preferred city for real estate sales to foreigners. In the light of the information we get from the field, an interesting situation we have encountered. In this case, almost all of the real estate sold to the foreigners in Istanbul is the European side, there are a number of reasons for this, but the effect of the agencies that sell to foreigners and promote the projects on the European side is very big. when we look at other cities that sell abroad after Istanbul, we see Antalya, Yalova, Bursa, Trabzon and Aydın. at this point, when we look at the details, we see that the demographic structure of foreign customers has changed. while having the foreign sales from provinces such as Yalova, Bursa and Trabzon are in demand from the gulf countries, provinces such as Antalya and Aydın are in demand from countries such as Russia, England and Germany.

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