Housing Sales to Foreigners Break a Record in 2021

The target of housing sales to foreigners is 10 billion dollars in 2021

Housing Sales to Foreigners – At the beginning of 2020, while the demands were rising, there was an atmosphere of uncertainty, due to the pandemic, and then digital solutions were put into use. It was observed that the sector experienced an increase of 100 percent in monthly sales with the opening of the markets after June 2020 and the partial lifting of the travel ban. To sum up; foreign property sales in Turkey may reach record Numbers in 2021.

Housing demand postponed by the governments low-interest-rate has been revived

Records were broken in sales with the gradually increasing housing campaigns with the loan support package. Until June, the number of real estates sold across the country exceeded 1 million despite the pandemic, curfew, and intercity travel restrictions. When we look at the same period last year, this figure was around 600 thousand. As of the end of September 2020, according to the National Address Database; the total number of residences was 39.1 million in Turkey.

It is thought that 2021 will be a year full of opportunities in terms of international real estate investments. In 2021, an international real estate investment of 10 billion dollars is expected as turnover. In return, it is predicted that 50 to 60,000 houses will be sold. Istanbul is still the first choice of foreigners when buying housing. Foreigners who bought 1,885 houses from Istanbul in November last year became the owner of 2,443 houses in the same period of this year.

Housing Sales to Foreigners – Home purchases of foreign people from Istanbul increased by 30 percent in November 2020 compared to the same period of the previous year. Antalya is the second most preferred city for foreigners, with 893 houses sold. Antalya is followed by Ankara with 297 residences, Yalova with 182, and Bursa with 174 residences.

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