General Information Turkish Real Estate Market

In Turkey in 2018, real estate sales were fairly stable and, in terms of the number of objects sold on the domestic market, did not differ much from the year 2017. General information The real estate market in Turkey is now more diverse than ever. The country is actively being built, new, magnificent houses, with the infrastructure of 5* hotels, appear not only in popular cities and resort areas, but also in the most remote provinces. Developers are literally working tirelessly, trying to offer buyers as many real estate options as possible from budget to elite. Of course, all this affects the overall level of sales. Thus, according to the Turkish Institute of Statistics, in 2018, a total of 1,375,398 transactions for the purchase and sale of commercial and residential real estate were made in Turkey. And if at the beginning of the year more luxury, expensive housing was sold, then in the second half of 2018 the number of sales of cheaper housing increased. The number of objects sold for mortgages also decreased last year. If in 2017 33% of apartments and villas were sold through mortgage lending, then last year only 20% of the total number of objects were bought with a mortgage. It is worth noting that in 2018, as for many years in a row, the largest number of real estate objects were purchased in Istanbul. And this is quite understandable — Istanbul, the largest and most famous metropolis of Turkey, and 17% of the total number of sales fell on it. Also, there are two more major cities in the top three in real estate sales — Ankara, the capital of Turkey, and the popular Izmir. In general, the real estate sales market over the past year can be noted as quite productive. The sale of housing to foreigners, but there was no stability in the market of real estate sales to foreigners last year. On the contrary, foreign citizens have become so active, buying villas and apartments in Turkey, that they have set a record. In total, they bought 39.663 objects in 2018! And this is 78.4% more than in 2017. Sales especially increased in the last months of last year, when the Turkish government announced a reduction in the investment threshold for obtaining Turkish citizenship. Literally every month there was an increase of one hundred and more percent than in the same periods of the year 2017. Foreigners bought whole floors, moved to Turkey with large families, with relatives, friends and acquaintances. In short, it was a real sales boom. And another record was set last year. For the first time, in terms of the number of real estate purchased by foreigners, Antalya province surpassed all other provinces and confidently took second place after Istanbul. So, in Istanbul, foreigners bought more than 14 thousand objects, and in Antalya almost 8 thousand. Bursa was in third place, but the number of sales there fell short of three thousand objects. As for representatives of different countries, last year the Russians again entered the top five most active buyers, pushing the citizens of Afghanistan from the fourth place. Thus, Iraqis, Iranians, citizens of Saudi Arabia, Russia and Kuwait bought the most real estate in Turkey last year. The Turkish real estate market did not experience serious shocks last year. And in the case of housing sales to foreigners, he even set a record. All this suggests that real estate in Turkey is in great demand by citizens of different countries. People come to live with us from large and small states, from countries with different faiths and traditions, because Turkey treats everyone cordially! Turkey is a beautiful and developing country, with a strong economy and decent politics, with comfortable living and working conditions. This year, analysts note a new round of growth in real estate sales. Come to us and you — in order to live well, you can live where you were born. And to live the best of all, you need to live in Turkey!

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