Real estate sector statistics in Turkey for the year 2020
Last Updated: 2021-07-09
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The issue of real estate in Turkey and the percentage of its sale and investment in each year is radically different from other years, whether previous or later years, and we must be fully aware that the Turkish state has competent authorities in order to count the progress of real estate in Turkey and the rates of sales. In the last year, that is, in 2020, the real estate situation in Turkey was completely different from what it was in previous years, so it was our duty to investigate this issue and study all its dimensions through this simple article.
What are the reasons for the high percentage of real estate sales in Turkey for the year 2020?
The real estate success that Turkey has witnessed in recent years must be what encouraged investors around the world to invest their money in its real estate as it is an unparalleled tourist and real estate destination. In the beginning, real estate in Turkey has a wide range of choice, where you are sure to find everything that meets your desires and your aspirations for the property that you will buy. Turkey is one of the countries that will offer you the appropriate property with international quality specifications for construction. We must not forget to refer to the attractive price that fits your budget, all this is in addition to the facilities provided by the Turkish government, which shortened a lot of time and effort.
The most important thing that made the real estate sector a target for the world investor in particular in 2020:
It is certain that Turkey's strong economy has a hand in being chosen by investors specifically among the rest of the other countries of the world. Turkey is also a country that enjoys political stability, so there is no chance for it to enter into a conflict with anyone, in addition to the dual character that it includes; the first is western par excellence and the other is eastern Islamic, and we can say it is also Arab because of its intense mixing with Arab countries. The beauty of Turkey and its charming green nature was a factor that attracted investors around the world, and moreover, the government decision to reduce taxes on real estate is what contributed to this demand. This decision was alongside with many other amendments to the constitution as well as all these factors have generally contributed to a strong renaissance in the field of real estate investment in Turkey in 2020.
What are the prices of real estate for the year 2020?
A country as large as the Turkish state must have a great priority in terms of demand for its real estate, and there are cities that reaped more sales than other cities, since they met a great demand, this means that they witnessed a great increase in their price. At the beginning of the topic, we find the city of Mugla, which ranked number one in terms of the highest price it earned, so one square meter was at a price of nearly six thousand, and this is considered somewhat high. Later, Istanbul got number two, so the price of a square meter in it was approximately five thousand Turkish liras. This is also considered one of the high prices if we compare it with previous years. Finally the cities of Izmir and Antalya come in a sequential form, as these two cities had similar real estate prices for the year 2020, so the price per square meter was approximately four thousand Turkish liras or slightly less than this.
How was the rating of investors in the demand for Turkish real estate in 2020?
As for Iranian investors, they ranked very high in demand for Istanbul, and after that came Iraqi, Afghani, Chinese, and finally Yemeni investors. The city of Istanbul was not the choice of all investors alike, so the city of Antalya was also the undisputed choice of Russian investors, followed by the Iranians, and the Turkish capital was never forgotten in the emergence of this real estate field, so it was the share of Iraqi investors in the first degree, and behind them were the Iranians, Germans and finally the Ukrainians.
Will real estate in Turkey continue to be so successful in the coming days?
According to the official authorities responsible for buying and selling transactions state, real estate investments in Turkey are increasing day by day, and every year that passes witnesses a significant increase from the previous year, and since foreigners were allowed to own real estate in it, this rise occurred, which recorded an imaginary number of sixty-seven billion Turkish liras, distributed over different real estate between agricultural lands, residential apartments and commercial stores, and the demand for it has reached its peak in particular after the Turkish government’s decision to grant Turkish citizenship under real estate ownership on its lands.
Some of the sale figures for real estate in Turkey for the year 2020:
There must be cities that surpass others in attracting attention and this is due to factors that these cities bear are not present in others. In Turkey, especially in 2020, the choice of investors was the cities of Istanbul and Antalya, so Istanbul was number one among all Turkish provinces and cities. The real estate sold in it was is large compared to other cities, as it reaped the number of seventeen thousand and two hundred properties sold, and its runner-up in this regard was the city of Antalya, which won the number six thousand and a half real estate, followed by Ankara, Bursa, and then Yalova
The real estate revolution in Turkey is not expected to have any limit to stop it after its great start.
Edited by Mersat Real Estate Team ©
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