Real estate sales at all-time high!

  • 12 months ago
  • 1

We have been observing a big boost in housing sales to foreigners in Turkey since March 2021. Turkish Statistical Institute published a newsletter on 12 July 2021 “House Sales Statistics, June 2021 ”. Convincingly, our predictions proved right! Real estate sales to foreigners are at all-time-high! Numbers prove an undeniable increase in property sales to foreigners.

What does this newsletter tell us? In reality, housing sales to foreigners in the first six-months of 2021 displayed a record level with 20,488 sales. Hence, official data confirms the highest sales performance of the first 6 months’ periods ever. Besides, this record corresponds to a 44% surge compared to 2020. Previous sales record was in 2019 with 19,952 property sales. In brief, real estate sales recorded an all-time high in the first half of 2021.

Number of real estate sales to foreigners in the first half of 2021

Real estate sales to foreigners made a poor start to 2021. Indeed, sales in January and February were down, compared to 2020. However, this trend reversed in March. Real estate sales of 4,248 units in March was the best figure ever reached in a March. Previously recorded highest number was 3,036 in March 2020. Therefore, you can see a remarkable 40% rise in demand. Furthermore, positive shift in sales to foreigners continued in April 2021, as well. To specify, housing sales of 4,077 in April 2021 more than quintupled compared to April 2020. Similarly, 1,776 unit sales in May 2021 were more than double the sales of May 2020. Furthermore, real estate sales to foreigners almost tripled to 4,748 in June 2020.

Property sales to foreigners by nationalities

When we look at the top 3 ranking countries generating the highest housing demand, it remains unchanged in 2021: 1) Iran, 2) Iraq, 3) Russia. Afghanistan, Kazakhstan, Germany, Yemen, Azerbaijan, United States of America, Palestine, Ukraine, Egypt, Pakistan, Kuwait, China, Lebanon, England, Sweden and Sudan are the following countries. Countries that passed 500 houses threshold within 6 months included Iran, Iraq, Russia, Afghanistan, Kazakhstan, Germany, Yemen, Azerbaijan, United States of America and Palestine. 20 countries crossed the 250 houses threshold, in total.

The most preferred cities in Turkey

Istanbul, Antalya and Ankara respectively were top property demand drawing Turkish cities in 2021. Furthermore, Mersin, Yalova, Bursa, Sakarya, İzmir, Muğla and Samsun followed these cities. Although the rankings of city preferences slightly changed in 2021 from 2020, top ten cities remained the same.

What do statistics tell us?

In conclusion, real estate sales to foreigners are at all-time highs in the first half of 2021. We believe that this trend shows international interest and confidence in Turkey. Moreover, we predict high sales trend to continue in the upcoming days because of following reasons:

  • Quality buildings
  • An established real estate system
  • Turkey’s democratic structure that welcomes any lifestyle
  • Hospitable approaches towards foreigners
  • Affordable construction costs and
  • The Citizenship Program.

In addition, we would like to share the highlights of official statistics below:

  • Highest number of property sales in the first six months: 20,488 units
  • Year-on-year home sales growth rate: 44%
  • Highest number of sales in March: 4,248 units
  • Amount of increase in April: 5 times
  • Highest number of sales in April: 4,077 units
  • Amount of increase in May: 2 times
  • The increase in June: 3 times
  • Highest number of sales in June: 4,748 units
  • Highest property demand by countries: 1- Neighboring Countries (Iran, Iraq, Azerbaijan) 2- Developed Countries (USA, Germany, China, Russia, Sweden) 3- MENA Countries (Lebanon, Egypt, Palestine, Yemen, Jordan, Kuwait) 4- Others (Ukraine , Kazakhstan, Afghanistan, Pakistan)
  • Countries with over 500 purchases: 10 countries
  • Countries with over 250 purchases: 20 countries

If you want to capitalize on rising Turkish property buying trend and make a timely purchase before prices go further up, contact us now!

For more information, feel free to contact Us!

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