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Turkey 2021 Real Estate Purchases by Foreigners Significantly Increased

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Turkey 2021 real estate purchases by foreign investors increased by 37% according to EVA Real Estate Appraisal Consultancy. The company has analyzed the real estate investments of foreign investors in Turkey in the last two years.

Foreign investments in Turkey increased by 37%. Also, the number of transactions increased by 44% compared to the same period of 2020. Bursa, Antalya and Sakarya cities in Turkey took first place in real estate investments. In the world, Kuwait ranked first in terms of area and Iran in terms of sales. The USA, on the other hand, was in the top 10 for the first time in the last three years.

According to the data of the Department of Land Registry for Foreigners in Turkey, real estate acquisition of foreigners was 4.461.393 square meters at the end of the first 9 months of 2020. This figure increased by 37% in the same period of 2021 and reached 6.109.630 square meters.

A total of 37,479 houses sold in Turkey

According to the data of the Turkish Statistical Institute regarding house sales, a total of 37,479 houses were sold in Turkey during the first 9 months of 2021. So, there was an increase of 42.75% in the third quarter compared to the same period of last year. The ratio of residences sold to foreigners in total house sales was 2.3% as of the end of the first 9 months of 2020. Also, this rate increased to 3.9% in the same period of 2021.

Kuwait ranked first in terms of area, and Iran in terms of units in real estate

As of the first 9 months of 2021, when all real estate investments of foreigners in Turkey are analyzed on the basis of the total share, Kuwait ranked first. Afghanistan, Germany, Iraq, Yemen, USA, Russian Federation, Iran, Azerbaijan and Kazakhstan followed Kuwait. Kuwait took place of the previous year’s winner Jordan in this category.

The USA took its place in the top 10 for the first time in 3 years

As of the first 9 months of 2021, Iran, Iraq and the Russian Federation again took first place in the total number of real estate sales to foreigners in Turkey. Afghanistan, Germany, Kazakhstan, Kuwait, USA, Yemen and Azerbaijan followed these countries. According to the land registry data, the USA was on the top 10 purchase list for the first time in the last three years.

Istanbul ranked first in terms of Turkey 2021 real estate purchases

In terms of all real estate, Istanbul took first place in terms of sales in the most popular provinces in Turkey. Antalya, Ankara, Mersin, Yalova, Bursa, Izmir, Sakarya, Mugla and Kocaeli followed the province of Istanbul. Esenyurt, Beylikduzu, Basaksehir, Bagcilar, Avcilar, Kucukcekmece, Buyukcekmece, Kagithane, Zeytinburnu and Fatih districts were the popular districts.

Iran again took first place in Istanbul

As of the end of the first 9 months of 2021, Iran ranked first in all real estate investments in Istanbul. Iraq, Afghanistan, Yemen, China, Palestine, Egypt, Pakistan, USA and Jordan followed Iran in terms of total sales to foreigners.

Bursa, Antalya and Sakarya in the top three in real estate investment

Bursa was the province most preferred by foreigners for real estate investments as of the first 9 months of 2021. Moreover, Antalya, Sakarya, Istanbul, Mugla, Mersin, Yalova, Kocaeli, Ankara and Izmir respectively followed Bursa.

The share of Gulf countries in foreign real estate investments not changed

The investments made by the Gulf countries have a significant place in foreign real estate investments.

While evaluating Gulf countries among the total foreign investments, EVA Real Estate Appraisal Consultancy revealed that the share of the Gulf countries in the total foreign investment on a square meter basis, which was 7% in the first 9 months of 2020, increased to 10% in the same period of 2021. Real estate sales to foreigners in Istanbul increased by 16% on a square meter basis compared to the same period of 2020.

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