Real Estate Reports

Real estate reports in Turkey for foreigners have proven to the world how big and the high value of real estate investment in it, surprising statistics and numbers over recent years and since the issuance of the naturalization law for foreigners in Turkey.

Actually, real estate reports in Turkey have become an appeal to it, whether to buy a property and get Turkish citizenship or buy a property, get a real estate residence and enjoy the features that characterize Turkey.

Bina Investment has prepared a detailed article that includes the latest real estate reports in Turkey for foreigners. It starts from the last statistic in the first quarter of 2022, all according to the Turkish Statistics Authority TÜİK and the Turkish Anatolia Agency.

Real estate reports in Turkey

Record numbers in the first quarter of 2022 for real estate sales in Turkey

First, statistics state that real estate in Turkey has witnessed a significant increase in the number of housing units sold to foreigners by 45.1 percent during the first quarter of this year compared to the same period in 2021.

The number of units sold during this period reached 14,344 housing units;  Istanbul was the first as usual, as the number of sold units was 5,974 units, equivalent to 41.6 percent of the total properties sold to foreigners during the first quarter of this year.

Concerning the nationalities that have ownership in Turkey, the Iranians topped the list of buying real estate in Turkey in the first quarter of this year with 2,256 housing units, followed by the Iraqis with 1,887 units.

We will now go into the details of real estate reports in Turkey, including every month since the beginning of 2022

Real estate reports in January 2022

Real estate sales to foreigners increased by 56.5% in January compared to the same month of the last year, 2021, 4,186 properties were sold. Istanbul ranked first in sales with 1,771 properties, followed by Antalya with 914 properties.

Iranian citizens ranked first in owning real estate in Turkey with 761 properties, followed by citizens of the State of Iraq with 513 properties, then citizens of the Russian Federation with 479 properties.

Real estate reports in February 2022

Real estate sales to foreigners increased by 54.9 percent in February compared to the same month of the last year, 2021; 4,591 properties were sold. Istanbul ranked first in sales with 1958 properties, followed by Antalya with 1999 properties, then Ankara with 288 properties.

Iranian citizens ranked first in owning real estate in Turkey in February, with 711 properties, followed by citizens of the State of Iraq with 633 properties, and then citizens of the Russian Federation with 509 properties.

 Real estate reports in March 2022

Real estate sales to foreigners increased by 31.0 percent in March compared to the same month of the last year, 2021, 5,567 properties were sold. Istanbul ranked first in sales with 2,245 properties, followed by Antalya with 1,434 properties, then Ankara with 347 properties.

Iranian citizens ranked first in owning real estate in Turkey in March, with 784 properties, followed by citizens of the State of Iraq with 741 properties, and then citizens of the Russian Federation with 547 properties.

These statistics and data indicate that real estate investment in Turkey maintains its appeal and shows that investor confidence in Turkey is still solid and has not been affected by inflation in Turkey, though the fluctuations in the exchange rate of the Turkish lira against the dollar.

Why is Istanbul the first and most attractive city for buying real estate?

First, the unique geographical location

Istanbul is located in a strategic location in the middle of the world; it includes the most significant water straits, "the Bosphorus Strait", through which many commercial ships pass, and Istanbul Airport is a global transit station where most international planes land.

Second, the tourist attractions that Istanbul enjoys

Istanbul is visited by tourists from all over the world to see its natural beauty, on the one hand, and its historical monuments on the other. Istanbul has thousands of tourist places and receives at least 2 million tourists annually.

Third, multiple real estate options

The diversity of real estate in Istanbul is the main attraction to it, as it contains many real estate options, such as residential, commercial, and tourist properties, as well as detached and shared villas, do not forget about agricultural and construction lands and others.

Fourth, the unique environment of Istanbul's location

The city of Istanbul contains a robust educational and cultural infrastructure, and this results in a renewed and open social environment as well, especially since Istanbul combines Arab culture and Western civilization, and this is the biggest attractive factor for buying real estate in Turkey

Fifth, the abundance of real estate projects in Istanbul

On the one hand, the projects that are established by construction companies with government guarantee in Istanbul, and on the other hand, the projects that are established by private construction companies, all of this has resulted in a large list of real estate projects within the city of Istanbul.

Real estate projects in Istanbul also have beautiful touches and features, such as choosing the location near the sea to get beautiful views, the enriched projects with green spaces, or the added public and recreational facilities that bring comfort and relaxation to the residents of the projects.

What are the reasons that prompted Iranian citizens to own real estate in Turkey and be ranked first?

• The deteriorating economic situation in the Iranian state in general.
• The terrible price hike in the Iranian state.
• Iranian citizens have become increasingly concerned lately.
• The exchange rate of the dollar against the Turkish lira has increased by a large percentage.
• The incentives provided by the Turkish state to foreigners to get Turkish citizenship.

Finally

Those are real estate reports in Turkey from the beginning of this year until today, we have also added the most significant reasons why Iranian citizens buy real estate in Turkey, and the most important factors that attract real estate ownership in Istanbul in particular.

Binaa Investment is specialized in providing legal, real estate, and engineering consultancy within the city of Istanbul. We are agents for more than 200 points and projects in Turkey. We offer distinguished services, starting from receiving you at the airport to handing over the property key.

Edited by: Binaa Investment©

Sources: Turkish Statistical Authority