Housing sales to foreigners reached the highest level in recent years. There are also investors who want sea coast in the Bosphorus and small apartments in Esenyurt. The most preferred houses for foreign purchases are 250 thousand dollar houses. The most important reason for this is that the investment limit required for foreign investors to have Turkish citizenship is 250 thousand dollars.
The housing sector, with 1 million 375 thousand 398 sales last year, had to deal with the previous year's record. Even though 2019 started with a decline, sales to foreigners are going well. In Turkey, 72 thousand 937 housing were sold in January. In February, this figure increased to 78 thousand 450. In February, sales to foreigners increased by 92.1 percent (3 thousand 321 units). Thus, the increase in housing to foreigners broke a record. Istanbul ranks first with 1.440 housing sales to foreigners. Istanbul was followed by Antalya with 672 sales, Ankara with 196 sales, Bursa with 192 sales and Yalova with 138 sales.
“The Saudis buy housing in every segment. Qatari investors prefer only the residence. Iraqis are turning to cheap housing. Among the Iranians, there is also one who wants sea coast, and one who wants 1 + 1 house in Beylikdüzü. Izmir is also on the radar of Iranians. Lately we are witnessing the Afghans also buy property in Turkey,” Remax Real Estate Consultant Evrim Kiziltas Basaran said.
The most important place preferred by foreigners is the Bosphorus. A certain group of high-income income groups from the Middle East countries have great interest in the mansions in the Bosphorus. Foreigners who want to buy housing start to come to Istanbul in April-May, this intensity continues until October. Waterside prices in the Bosphorus vary between 30 million pounds and 500 million pounds.
Foreigners were paying an average of 150 thousand dollars for a home they bought from Turkey. Following the announcement of the citizenship limit of $ 250 thousand, this average figure rose to $ 250 thousand. There are foreigners who buy real estate worth $ 1 million, though not many.
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