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REAL ESTATE TURKEY

Real Estate Sales Keep Growing Just Like the First Half of the Year

17 September 2019
Real Estate Sales Keep Growing Just Like the First Half of the Year

In the first half of 2019, the real estate sales to foreigners has grown 68% more than the same period of the year 2018. In the first year of 2019, 19.458 real estate sales to foreigners have observed. The sales to foreigners keep increasing at the same pace even in the recent moths.

Real Estate Sales to Foreigners after the First Half of 2019

By examining the data received from the Turkish Institute of Statistics, for July 2019, it is possible to say that the real estate sales to foreigners are still growing rapidly. The data shows that the sales to foreigners has raised by 46% by comparing the July 2019 and July 2018. In July 2019, 4.192 properties were sold to foreigners.

Most Preferred Cities in 2019

The foreigner people mostly prefer seaside cities when they are buying property from Turkey. In 2019, Istanbul is the most preferred location for foreigners to purchase a property. The cities Antalya, Bursa, Ankara, and Yalova follows Istanbul in the sales to foreigners.

When it comes to the sales to foreigners after the second half, there seems to be no change in the order of those cities. In July 2019; 1.903 properties were sold in Istanbul, 764 in Antalya, 249 in Bursa, 217 in Ankara and 177 in Yalova.

Which Nationalities Are Buying Properties the Most?

In the first half of 2019, it has seen Iraqis purchased properties the most. The same situation continues even after the first half. Iraqis are still on the top and Iranians, Afghans, Russians are following them on the number of purchases.

Why Are Sales to Foreigners Increasing?

The main reason for foreigners to purchase property in Turkey is to be able to apply for Turkish citizenship. You can apply for Turkish citizenship if you purchase a property for at least 250.000 US dollars. This number used to be 1 million US dollars before the change in the regulations made by the Turkish government. This factor is the main reason that increased sales to foreigners significantly.

Another Ways to Get Turkish Citizenship

Other than buying a property which is worth 250.000 US dollars, you may want to consider other options, and those are;

  • Founding or owning a workplace where you employ at least 50 people.
  • Doing investment in Turkey. The value of the investment must be at least 500.000 US dollars.
  • Keeping at least 1 million US dollars in any Turkish banks.
  • Marrying a Turkish citizen. In order to be applied, you have to stay married for at least 3 years.

After getting permission to apply for citizenship, there are some requirements you need to satisfy;

  • You must not have any criminal background.
  • Your level of income or wealth must be enough to be able to take care of the people you are responsible for.
  • Your ability in Turkish speaking must be at a sufficient level.
  • You must not have any diseases that could bring danger or harm to society.

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