Statics for Real-Estate Sales in Turkey for the First Six-Month in 2019
The ReaL-Estate field in Turkey has an influential role in the Turkish economy. It became one of the common essential factors in boosting the economy. Real-Estate Sales in Turkey is becoming the most influential factor in the economic status in turkey.
During the end of 2018 and the beginning of 2019, this field witnessed a massive enhancement in the amendment relating the owning of a property in Turkey to getting the Turkish nationality. Real estate prices dropped from 1,000,000$ to 250,000$. Due to the amendment of the law, Turkey witnessed high demand from foreigners on buying properties.
Real-Estate’s Sales Rate Between 2018-2019
Based on the statics of the National Statistical Institute of Turkey, on June 2019 the country witnessed a 22,6%growth in the sales of real estate in comparison with the same period in 2018.
- During that period 2717 properties sold in 2019 while in 2018 only 2085.
Due to the amendment in the property and citizenship law, the sales of real estate in the first semester of 2019 raised with 68,8% in comparison with the same period in 2018.
- In 2018 foreigners bought around 11944 property while in 2019 bought 20169 property.
- Noting that these statistics calculated before the start of the selling season.
Cities Dominating the Real-Estate Field
Istanbul, with the sales of 8903 property, rank as first in the real estate field. The number of sales makes it again the dominator in the field. It is the biggest city in Turkey and the metropolis of the Turkish economy. June 2019 in Istanbul, 1009 units sold while June 2018 only 764 units.
Ranking as a second in line is Antalya with sales of 4093 units within six months, Ankara third with 1111, then bursa with 1000 units sold and Yalova with 811.
Different Nationalities Settling in Turkey
During the first six months of 2019, the highest share of Investment in Turkey belongs to Iraq with the purchase of 3337 units. The second country in rank is Iran with purchase of 2202 units. Russia comes in third with the purchase of 1264 units, and the fourth in line is Saudi Arabia with 1094 units.