Real Estate

65 percent of Turkish housing sales to foreigners in the Jan-Sept period were made from Istanbul and Antalya

Istanbul and Antalya continue to lead the way in housing sales to foreigners, 65.2 percent of housing sales to foreigners in the January-October period were from Istanbul and Antalya.

According to TURKSTAT data, the number of houses sold to foreigners throughout the country in the first 10 months of the year was 31 thousand 423 units. 65.2 percent of these sales were made from Istanbul and Antalya. In the Jan-Sept period, 14 thousand 424 houses were sold to foreigners in Istanbul, while this number was 6 thousand 53 in Antalya. Istanbul and Antalya were followed by Ankara with 2 thousand 176 sales, Bursa with 1068, Yalova with 1008, Mersin with 994, Izmir with 994, Samsun with 698, Sakarya with 678 and Mugla with 613.

The highest sales in Istanbul were seen in October with 2 thousand 458 units while 2 thousand 370 houses were sold to foreigners in September, 1987 in February and 1875 in January. The lowest figure was in April, when there were restrictions and bans with a figure of 374.

In Antalya, the highest sales figure was reached in September with 1018 units while 928 houses were sold in October, 805 in February, 784 in August and 762 in January. The month in which the lowest sales figure was seen was May with 130 units.

‘’ Istanbul needs to reach bigger sales numbers. ‘’

Omer Faruk Akbal, President of Real Estate Overseas Promotion Association (GIGDER) stated that Istanbul and Antalya are Turkey’s two major cities. Akbal noted that Istanbul, which is the leader in sales to foreigners alone, should be compared with the leading big cities of the world such as New York and London. Expressing that Istanbul is a brand that is even ahead of Turkey from time to time in terms of international investments, Akbal said:

‘’ For this reason, we should not be surprised that Istanbul has taken the lead, but that it cannot reach a greater potential. As GIGDER, we will bring Istanbul to the forefront in order to reach the investments it deserves with the works we will do. Antalya, on the other hand, is a tourism paradise in the world. We know that Antalya has its own brand, and even its districts have more brands than many countries. It is necessary to compare Antalya with other tourism paradises in the world. ‘’

Akbal stated that housing sales to foreigners will increase in these two cities, and said:

‘’ On the other hand, we plan to do promotions and studies in order to highlight other undiscovered Turkish provinces, we will collaborate with local governments for this purpose. We want to attract international investments to these cities as well. Interest towards the districts that are distant from the centre have started.’’

Bayram Tekce , President of Real Estate and Real Estate Investment Trust Association (GYODER) Export Committee stated that the most important reasons why Istanbul and Antalya is in the first place in housing sales to foreigners is the fact that they have high recognition. They are also Turkey’s best-known and most visited tourist destinations besides there are more and relatively economical flights to these province. Tekce said.

‘’ The cheap price is also an element that attracts foreigners. Families started to be interested in independent and distant districts during the pandemic period. People with health concerns or those in the risky age group started to pay attention to proximity to hospitals or health institutions, and there was an increase in villa sales in both provinces.’’

‘’ Foreigners in Antalya do not want to return.’’

Selman Ozgun, board chairman of Helmann Construction stated that foreigners started to buy real estate for living purposes rather than investment and said:

‘’ The biggest factor here was the pandemic. Foreigners who have been on holiday in Antalya for a short time do not want to return in this process.’’

Expressing that the weather conditions, facilities, and features of Antalya make itself attractive for foreigners, Ozgun emphasized that in this process, the interest in projects with gardens, detached, low-rise and green facilities increased. Ozgun stated that with the passing of the effects of the epidemic, housing sales will increase in Antalya and continued as follows:

“This year, I think that around 8 thousand residences will be sold to foreigners in Antalya. However, this number will increase and multiply rapidly in the coming years. Because Antalya offers foreigners a unique life that cannot be found in many major tourism centres of the world, thanks to its features and opportunities. Antalya will also attract more investors in the coming years. “

Ozgun stated that during the epidemic period, their own projects also attracted the attention of foreigners, so they started a boutique project named “Helmann Carpediem” in Dosemealti. Noting that the project offers an isolated life opportunity, Ozgun said:

‘’ Actually, this is a villa project. Each villa has its own garden, pool, where plantation is available. We will realize our project in a short time, away from the crowd of the city, in touch with nature where all the possibilities of the site are offered.’’

‘’ We must increase the numbers on the basis of pieces. ‘’

Gokhan Tas, Turkey President of Coldwell Banker stated that Turkey caught a serious acceleration in housing sales to foreigners for the last two months. He noted that despite the pandemic in October, there was a 23 percent increase in sales to foreigners compared to the same period last year. Expressing that if the increase continues, the decrease may be less than 5 percent compared to last year, Tas said:

‘’ It is very important to get close to the previous year’s total sales to foreigners. Indeed, this is not the case in Europe and there are serious losses in sales to foreigners. If Turkey maintains the momentum, it can take the lead in housing sales to foreigners in Europe and more qualified seller could be obtained. ‘’

source: AA / translated by Melisa Karayusufoglu 

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