Turkey Homes

153 THOUSAND HOMES HAVE BEEN SOLD TO FOREIGNERS IN THE LAST FIVE YEARS, 88 THOUSAND OF THEM TO MIDDLE EASTERNERS

• Housing purchases of foreigners in Turkey increased with the regulation on the granting of citizenship for 250 thousand dollars. According to TurkStat data, in the last five years, foreigners received a total of 153,766 housing units in Turkey.
  

• Of that figure, at least 88,393 were citizens of Middle Eastern countries. With housing sales out of Syrian asylum seekers, the foreign population in Turkey has exceeded 1.5 million. Real estate appraisers pointed out that the housing purchases made by citizens of countries other than the Middle East countries were made mainly by people of Turkish origin.

• The increase in housing sales to foreigners in Turkey in recent years and the weight of Middle East citizens in sales is striking.

• According to Turkish Statistical Institute (TurkStat) data, foreigners in Turkey in the last five years received a total of 153,766 housing units. Of that figure, 88,393 were citizens of Middle Eastern countries, amounting to at least 57.5 per cent.

• During this period, the total housing intake of citizens of Arab countries in Turkey was 69.22.

• In 2019, 45,967 houses were sold to foreigners, of which 27,98 were to citizens of Middle Eastern countries.

• In this period, the largest number of housing purchases, 27,609 Iraqis made. The Saudis were second with 12,971, the Iranians were third with 11,953, the Russians were fourth with 10,35, the Kuwaitis were fifth with 9,788, the Afghans were sixth with 7,418, the Germans were seventh with 6,77, and the British were eighth with 5,337.

FOREIGNER ATTRACTION IS DUE TO CITIZENSHIP ARRANGEMENT FOR $ 250K

• The primary factor in the increase in Turkish housing sales to foreigners is the regulation of citizenship.

• On September 19, 2018, the regulation was implemented and the minimum price for the purchase of real estate required for foreigners to obtain citizenship of the Republic of Turkey was reduced from $ 1 million to $ 250 thousand.

TURKISH ORIGIN WEIGHS IN ON PURCHASES OUTSIDE MIDDLE EAST

• A significant proportion of the housing purchases from countries outside the Middle East were made by people of Turkish and Muslim origin.

• Because of the property problems experienced in Middle Eastern countries, those with a certain accumulation in this country prefer to evaluate their savings in Turkey, which is geographically close and the rich in Gulf countries generally prefer London.

• In Bodrum, Kas, Alanya and Antalya Russian, British and German has purchased housing, and Far Easterners instead of Turkey preferred Australia, New Zealand, Canada, USA and UK, as of the Chinese prefer Canada and Australia.

20 PERCENT OF TURNOVER IN ISTANBUL IS FROM FOREIGNERS

• Citizenship regulation increased sales of the accumulated demand is effective attention, foreigners in the coming period did not expect an increase in housing sales.

• Sales to foreigners in Turkey in total home sales 3.5 per cent on the basis of units, 9 per cent on the basis of turnover transferred to the share, houses in Istanbul, foreigners on the basis of units 10 per cent, 20 per cent on the basis of turnover, such as a significant share reached pointed out.

FOREIGN POPULATION IS ALSO INCREASING

• With housing sales to foreigners, the number of foreigners in Turkey's population is also increasing. According to the results of the address based Population Registration System (ADNKS) announced by TurkStat last week, the foreign population residing in our country (except the Syrian population within the scope of temporary protection) increased by 320 thousand 146 people in 2019 compared to the previous year and was 1 million 531 thousand 180 people.

• As with housing sales, Iraqis ranked first in this area. According to 2019 data, the number of Iraqis with work or residence permits in Turkey is 283,934. The Iraqis are followed by the Afghans with 120,409 and the Turkmen with 68,46 housing sales.