Foreign ownership in Turkey

Foreign ownership in Turkey

 

We present to you the statistics of foreign ownership in Turkey for the past year as a form of documentation of the size of real estate sales to foreigners in Turkey during 2021.

Turkey Foreign Direct Investment 

In this article, you will find accurate information about the number of real estate sales to foreigners, what nationalities are the most willing to own homes in Turkey, and what are the most popular provinces that foreigners prefer for housing and  Real estate investing in Turkey, With a brief overview of the challenges experienced by the real estate sector in Turkey during the past year, and an analysis for the future of investment in real estate in Turkey during this year 2022.

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Statistical Report on Foreign Ownership in Turkey

The year 2021 witnessed a clear recovery in the real estate market through the increase in the number of real estate sales in general, and to foreigners in particular, as foreigners bought during this year 58 thousand and 576 properties, which is the highest number in the history of real estate ownership in Turkey by foreigners, which reflects the great recovery in This market.

 Let us provide you with some important statistics issued by the National Statistical Authority in Turkey.

The Highest Foreign Real Estate Purchases in 2021 

 Fanar Realty monitored the statistics of foreigner real estate sales in Turkey during the past nine years, as shown in the following table:

YEAR 

NUMBER OF SALES

2021

58576

2020

40812

2019

45483

2018

39663

2017

22234

2016

18189

2015

22830

2014

18959

2013

12181

 

By carefully reading the previous statistics, we can describe the year 2021 as follows:

-2021 is the most selling year for real estate in Turkey for a foreign buyer.

-21% of real estate sales in the past nine years will be in 2021.

-Real estate sales increased in 2021 compared to 2020 by 30.3%

-Comparing foreign ownership in Turkey in 2013 and 2021, the volume of ownership over the year increased by 380.8%.

Therefore,2021is considered the golden year for the real estate sector in Turkey by all standards. 

  Purchase of Real Estate by Foreigners in Turkey-Details and database 

 the following are the statistics of Real Estate Ownership in Turkey by months during 2021 in more detail 2021. 

we have prepared for you a statistic of the number of properties sold to foreigners in each month of the past year:

Month

Number of real estate sales during the month

January

2712

February

2995

March

4285

April

4132

May

1796

June

4826

July

4564

August

5932

September

6706

October

5963

November

7441

December

7930

 

From the previous statistic we conclude:

-The most real estate sales to foreigners in Turkey were in December

-The lowest real estate sales to foreigners in Turkey was in May.

The Daily Rate of Real Estate Ownership in Turkey

To be able to read the sales volume more accurately, let us share with you the statistics of the average daily rate of buying real estate in Turkey by foreign buyers:



 

Year

General Daily Average of Foreign Ownership

2021

160   properties per day

2020

112    properties per day

2019

125    properties per day

2018

109     properties per day

2017

61      properties per day

2016

50      properties per day

2015

62      properties per day

2014

52     properties per day

2013

33     properties per day

 

The jump from 33 properties per day in 2013 to 160 properties per day in 2021 is a clear indicator that confirms the great increase in the foreigner's desire to live in Turkey, buy real estate, and invest in its properties.

Buying Property in Turkey - What Are The Best States?

 talk about foreign ownership in Turkey is considered one of the topics that should be reviewed along with learning the most places or states that attract foreigners to live and invest in", and of course, everyone may know that Istanbul is the state that has the highest share for real estate sells throughout the year.

the following table will share with you the exact number of real estate sales to foreigners in each state in the past 2021

 

State

The number of properties sold to foreigners

Istanbul

26469

Antalya

12384

Ankara

3672

Mersin

2513

Yalova

1818

Bursa

1683

Izmir

1411

Sakarya

1262

Samsun

1157

Trabzon

952

Other states

5255

 

according to this statistic, we can confirm the following:

-Istanbul has maintained its lead in the field of foreign ownership in Turkey

-Antalya also achieved high real estate sales in 2021, in contrast to the decline in 2020 due to the impact of the Corona pandemic on tourism, where it is known that the majority of real estate activity in Antalya is of the type of tourism investment.

-During the past five years, Trabzon has lost a lot of its attractiveness towards foreigners, while it was several years ago in a more advanced rank.

read: Istanbul Real Estate

Owning a Property in Turkey - According to Foreign Nationalities?

According to the same statistical report that we relied on in this article, you can see documented information in figures about the twenty foreign nationalities most in demand to own real estate in Turkey, which are arranged as follows.

Nationality

Number of properties sold to holders in 2021

Iranian

10056

Iraqi

8661

Russian

5379

Afghan

2762

German

2358

Kazakh

2090

Kuwaiti

1791

Azerbaijani

1517

American

1416

Yemeni

1332

Palestinian

1296

Jordanian

1257

Ukrainian

1246

Egyptian

1166

British

1089

Lebanese

1022

Chinese

963

Pakistani

962

Swedish

850

Sudanese

699

Other nationalities

11370

 

Standing on the previous statistic, let us clarify some points:

-Iranians are still at the top of the lists of foreign ownership in Turkey

-The Iraqis also maintained their second place in the world and the first in the Arab world in the field of real estate ownership in Turkey

-The turnout of Kuwaitis has decreased significantly

-The Russians also still maintain a good share of the total real estate sales to foreigners in Turkey.

-For the first time, Sudanese have entered the list of the top 20 nationalities who own real estate in Turkey.

Read: Buying an Apartment In Istanbul

The Most Important Problem with Buying Property In Turkey

The real estate sector in Turkey has suffered during the past year in particular from a wave of problems that must be mentioned, even if it was not directly related to the property, meaning that the real estate market is open and there is no stagnation in it, but it must be talked about because of the negative impact of these problems:

Spreading Rumors

One of the things that raise concerns among foreign investors is the rumors Spreading about foreign ownership in Turkey, and most of these rumors are not true, but they have already spread.

 the investor should check the reliable sites and blogs for true and trusty information and not fall victim to false rumors about the real estate market in Turkey, and you can contact Fanar realty numbers and accounts on social media at any time to learn the correct information always. 

In many of our articles on the website, we have refuted many rumors that affected the Turkish real estate sector, including the Inheritance of real estate In Turkey.

 one of the reasons that led to the spread of rumors about owning real estate in Turkey during the past years is some media machines dedicated to deforming the image of the Turkish Republic and fighting any investment or economic activity in it, and to alienate foreign investors, but in general," the rope of lying is short" and any investor can come to Turkey and follows up for himself whether these rumors are true or not.

 

Exchange Rate Fluctuations

 In the normal case, the slight changes in the exchange rate of the Turkish lira against the dollar do not significantly affect real estate prices in Turkey, but what happened in the second half of 2021 of a significant decline in the Turkish lira and a rise in inflation rates in the country in a short time, affect the real estate prices in general.

this problem may have positives through the high revenue on rental investment for those who own real estate in Turkey, as well as the increase in the market value of their properties, but the stability of real estate prices is always better to attract new investors. 

It is expected that the effects of the exchange rate problem will fade before the middle of 2022 and that real estate prices continue to rise naturally, away from exchange rate fluctuations.

Syrians Own Property in Turkey

Also, one of the issues that faced the file of foreign ownership in Turkey was the Syrians ownership of in Turkey, as Turkey still classifies the Syrian nationality as one of the nationalities prohibited from owning real estate in Turkey 

 which impacted the real estate market, and it would have been raised if the way were Open for Syrians to own homes in Turkey.

 

This was a comprehensive report from Fanar Realty that we dedicated to talking about foreign ownership in Turkey through documented Statistics of foreign ownership in Turkey 2021 with comprehensive economic analyzes, in addition to referring to a set of related points and topics.

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