Due to the depreciation of TL, the real estate purchased by foreign investors in the last 6 months has exceeded the total number in 2017 …

Compared to statistics published last month, foreign investors continue to acquire real estate in Turkey. In September, sales were double the pre-crisis period of July.

According to the news in Sputnik News; British real estate firm Spot Blue International Property Ltd’s manager Julian Walker, “We increased our sales of real estate in Turkey through the loss of value of the Turkish Lira and our investors have direct experience in this market,” he said. For example, a seaside villa with a flat value of $ 1,146 million (6,060 million Turkish Liras) was worth $ 859,000 ($ 4,500 million) to investors in September.

Investors are most interested in the Turkish market, and investors in general are citizens of the Middle East and North African countries. According to the published data, Iranian investors, the biggest customers of the Turkish real estate market, doubled their market share. On the other hand, the market mass of Algeria and Jordan has tripled.

Nevertheless, the Turkish market is a flurry subject from the West. According to the data, the Germans doubled their market volumes, while US investors are among the top 20 customers for the last four years.

EN MOBILITY IN THE MARKET IS A RESULT OF OBTAINING TURKISH CITIZENSHIP ‘
“Although financial incentives are increasing sales, the Middle East and Arab investors are mobilized in the market, making a decision to obtain Turkish citizenship in return for real estate investment,” he said.

The Turkish government has reduced the investment threshold for citizenship from $ 1 million to $ 250,000. This, in turn, has increased the demand for the real estate industry.

Among the cities preferred by foreign investors, Ankara stands out and sales increased by 160 percent in 2018. According to the data, sales in Istanbul increased by 74 percent and Antalya and Bodrum sales increased by 70 percent. The only declining effect in the market is Saudi Arabia, with a decrease of 20 percent.

However, despite the foreign inflows in the Turkish real estate market and the development over the years, there are still quite a few unsold homes. Luxurion Real Estate Group real estate company in Istanbul stated that luxury real estate sales in Istanbul could decrease by 20 percent this year. It is estimated that the crisis in the market will end in 2020 and investors will be able to make a profit in the long term.