Foreigners rush to Turkey to buy a house

The increase in exchange rates to historical levels in Turkey and the luxury projects implemented after the pandemic created an explosion in the housing demand of foreigners. This year, it is expected to break a record with the sale of 50 thousand houses.

The number of foreigners who want to own a house is increasing day by day in Turkey, which has made a rapid start to tourism with the removal of pandemic measures. The number of residences sold to foreigners in the first six months of the year increased by 44 percent compared to the same period of the previous year. The increase in June alone broke a record with 185 percent. The top three countries that bought the most houses from Turkey were Iraq, Iran and Russia, respectively. Sector representatives state that the number of houses to be sold to foreigners by the end of 2021 will break a record with 50 thousand.

According to the June 2021 house sales data of the Turkish Statistical Institute (TUIK), total house sales decreased by 11.5 percent in the January-June period, while sales to foreigners increased by 44 percent. In the first six months, 20 thousand 488 houses were sold to foreigners. Housing sales to foreigners increased by 185.3 percent compared to June of the previous year, breaking a record.

Real estate consultant Evrim Kırmızıtaş Başaran says that housing prices in Turkey have become much more advantageous for foreigners compared to many other countries, especially in terms of Dollars and Euros. Pointing out that a few years ago, 1 million Euros was half of its current value in TL terms, “As such, foreigners can buy another flat on top of the house they wanted before. They can buy two or have a chance to reach a house they could not reach before. ‘ he speaks.

Top buyers Iraq, Iran and Russia

In the first half of the year, the citizens of the country that bought the most houses from Turkey left Iraq, followed by Iran with 3,707 houses and Russia with 1759 houses. Germany, on the other hand, became the fifth country to purchase the most housing from Turkey. Istanbul is the most preferred city for buying a house in Turkey. Istanbul is followed by Antalya, Ankara, Mersin and Bursa, respectively.

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