The most countries buying real estate in Turkey
The most important countries that bought real estate in Turkey for the year 2022
Turkey enjoys a gradual importance in the field of real estate, and in most cases, the demand in Turkey to buy real estate of all kinds is increasing, by foreigners from all nationalities of the world, with the desire of investors to settle in Turkey, or to profit from investing in it and making huge money. In 2019 more than 45,500 properties were sold to foreign investors, and the most countries to buy Turkish real estate are the Arab countries, and these countries are still one of the most buying countries for real estate in Turkey.
Table of contents
Buying real estate in Turkey
The Turkish Statistical Institute has issued monthly housing figures during the current year, and Iraq has occupied the first place, and the Investment Office has clarified the size of the increase in Arab investment in recent years, And he confirmed that citizens of Arab countries own about 11 million of the volume of real estate in Turkey, and Iraqis bought 18% of the 143,000 homes sold by foreign investors in 2015-2019.
The Saudis and Iranians ranked second with 9% for each country, then the Russians with 5%, and the Qataris, Kuwaitis and Emiratis with 5% for each nationality.
The value of these deals was estimated at $52 billion during 2003-2019, at an average of $3 billion annually.
A number exceeding five million Arabs entered during the current periods, among them Iraqi investors, others were Syrian investors, and the rest were from the Gulf states that experienced crises and difficult times.
The most Arab countries to buy real estate in Turkey:
Iraq:
Iraqis ranked first among foreign countries that were interested in buying real estate, Perhaps one of the reasons for the Iraqis' leadership is the proximity of Iraq and Turkey to each other culturally and geographically.
Saudi Arabia:
It ranked second among countries, in terms of buying real estate in Turkey, due to the quality of Turkish real estate, the prices that suit the Saudi citizen, the ease of organizing the investment business and the guarantee of profit from it.
The Saudis in the world of Turkish securities amounted to 2.4%, while the total share of the Gulf countries in the Turkish stock market ranges around 7%.
Kuwait:
One of the first countries to buy real estate in Turkey, due to the high rank of the Kuwaiti citizen, and the huge rise that hit the Kuwaiti market, in conjunction with the scarcity of projects and land eligible for construction.
The turnout of Kuwaitis during the last five years is due to their desire to benefit from the growth of the Turkish state and the provision of summer tourism, and the desire of Kuwaitis to protect their money with assets that achieve high profit.
Qatar:
In the middle of 2019, the total amount of Qatari investments received by the State of Turkey amounted to more than $601 million.
This is equivalent to 90% of the volume of direct Gulf investments received during the same period.
And not only that, but we find that Doha wants to launch new investments inside Turkey at prices exceeding seven billion dollars, especially in the field of real estate and exchange.
In 2018, Qatar received the largest share of foreign investment in Turkey.
UAE:
As for the UAE, the volume of direct investments in it has increased, from five million dollars during the first half of 2018 AD to 27 million dollars in the same period in 2019.
Syria:
The number of Syrian companies inside Turkey from 2014 to 2016, an amount that increased by 168%.
At the end of 2017, 4,793 Syrian companies were established with a capital equivalent to 39.1 million euros in Turkey.
Russians:
Russians are among the first peoples to own real estate in Turkey. According to the Turkish Statistical Institute, 2,893 units were sold to Russian buyers, and the number of Russian tourists last year reached 7 million Russians.
Iranians:
Iranians rank fifth among the citizens of the most visited countries in Turkey. The number of properties sold to Iranians in the first quarter of 2021 increased by 97%, compared to 2020.
There are several factors that encourage Iranians to buy real estate in Turkey, such as the presence of political and economic turmoil within Iran, the presence of several factors that help spread security and safety within Turkey, and the presence of US sanctions imposed on Iran.
The keen interest of Iranians in a desire to protect and increase the value of their savings, and a desire to invest and establish multiple companies within Turkey.
The most prominent cities that attract foreigners to buy real estate in Turkey:
According to the statistics in 2019 AD, the hierarchical order of the cities in which foreigners purchase real estate is as follows:
First, the city of Istanbul, where foreigners have purchased the equivalent of 20,857 properties, and also the city of Antalya, in which foreigners have bought the equivalent of 8951 properties, In addition to the city of Ankara, where foreigners were able to buy real estate equivalent to 2539 properties, and the city of Bursa, where foreigners bought 2213 properties.
The reasons that prompted foreigners to buy in these cities:
One of the first and most important reasons is the presence of a warm climate inside Turkey, in contrast to the cold climate that characterizes European countries or the very hot that you find in the Arab Gulf countries.
As well as the availability of fresh vegetables and fruits throughout the year.
The costs of living and entertainment within the state of Turkey are relatively low when compared to Russia, with many possibilities for Russia and other countries to travel to it, without the need to obtain a visa to enter.
Also, flights are available at a much lower cost compared to European countries permanently throughout the year, Also, the new buildings within the state of Turkey enjoy many amenities and services that are not available in other countries.
Real estate prices in Turkey are rather low compared to European, Arab or American countries.
Important forecasts for the Turkish real estate market:
It is also expected that most of the countries that buy real estate in Turkey will become residents of Arab countries, due to several reasons, the most important of which is that there are friendly relations between Turkey and a large number of Arab countries.
In this context, it must be noted that Istanbul hosts more than 17,000 Arab companies, and there are also more than 10,000 Arab companies in the Gaziantep region, and most of the residents in these places are Syrians, and this is an indication of the percentage of foreign and Arab presence there.
Thus, we have reached the conclusion. We hope that we have put to you in this article all the important points related to everything related to the purchase of real estate by foreigners in Turkey. We have shown you the most important reasons that prompted them to choose Turkey specifically and not others. We have provided you with some numbers that may interest you about the percentage of real estate sold to foreigners in some time periods.
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