The search for apartments for sale in Turkey for the Lebanese is considered one of the distinctive options for the Lebanese community in this country, so we will talk to you about the most important statistics of real estate ownership in Turkey, its components, as well as the most prominent advantages of the idea of buying an apartment or real estate in the Turkish states for Lebanese investors.
A lot of valuable information awaits you in this useful article
Read on for the latest details
When did the search for apartments for sale in Türkiye for the Lebanese start?
In general, the year 2012 is considered the most important year for foreign ownership in Turkey, not just the Lebanese, due to Turkey's abolition in this year of the "reciprocity" law regarding the ownership of real estate on Turkish lands by foreigners.
However, between 2012 and 2017, the Lebanese did not have an advanced ranking among foreign nationalities that own property in Turkey, but after 2018, official real estate statistics began to talk about the presence of the Lebanese community among the twenty foreign nationalities that own property in Turkey, although Lebanon's ranking is still ranging Between the 16th and 19th ranks, however, this is considered an advanced arrangement anyway.
Let us talk about the exact details of apartment ownership in Turkey by the Lebanese in the following statistical paragraph.
Real estate sales statistics in Türkiye to the Lebanese
Returning to the statistics of the "National Institute of Statistics in Turkey" over the past years, we can talk about the following statistics accurately and according to each year:
Lebanese ownership in Türkiye 2018-2021
Let us look at this table attached to the statistics of apartments for sale in Turkey for the Lebanese in the years mentioned in the title of this paragraph, before we go into some important statistical details:
the year
The number of real estate purchased by foreigners
The number of real estate purchased by the Lebanese
Percentage of Lebanese ownership of total real estate sales to foreigners
Ranking Lebanon among the foreign nationalities that own in Türkiye
2018
40044
456
1.13%
19
2019
45967
650
1.41%
19
2020
41298
707
1.71%
16
2021
59282
1022
1.72%
16
Referring to the previous statistics, we can draw the following analytical results:
The percentage of Lebanese ownership of total real estate sales to foreigners in Turkey is still below the 2% limit, although this percentage is good for a country with a population of Lebanon.
The Lebanese have maintained a good relative increase over the past four years, which indicates the possibility of their advancement to higher stages during the coming years.
The Lebanese people's desire to buy apartments in Turkey during the year 2020 "during the spread of the Corona virus" was not affected, unlike many foreign nationalities that refrained from owning real estate in Turkey during the period of the pandemic, which calls us to talk about an increasing demand for Lebanese ownership in Turkey
The year 2021 represents a golden year for the purchase of apartments in Turkey by Lebanese residents, especially since they have exceeded the limit of 1,000 properties per year.
In comparison between the statistics of 2018 and 2021, the number of apartments for sale in Turkey for Lebanese increased by approximately 124%.
Lebanese ownership in Türkiye 2022
The year 2022 witnessed a slight decline in the desire of the Lebanese to own real estate in Turkey, and therefore there are logical reasons that we will certainly discuss, but after reviewing the following statistics:
the month
The number of real estate purchased by foreigners
The number of real estate purchased by the Lebanese
Percentage of Lebanese ownership of total real estate sales to foreigners
January
4234
83
1.96%
February
4639
73
1.57%
March
5618
84
1.49%
April
6524
92
1.41%
May
6033
87
1.44%
June
8707
98
1.12%
July
3974
37
0.93%
August
5340
76
1.42%
September
5104
42
0.82%
October
5435
45
0.82%
November
6133
50
0.82%
Total
61,747
767
1.42%
We can easily notice a decline in the demand of the Lebanese to buy apartments in Turkey during this year, and even the expectations in the month of December are not auspicious of an increase in the demand for apartments for sale in Turkey for the Lebanese, and the main reason for this is related to the Lebanese crisis, especially after the bankruptcy of the banks there.
Most Lebanese investors cannot withdraw their money from Lebanese banks or transfer them to Turkey, which constitutes a major obstacle to their ability to own real estate in Turkish lands.
Expectations of Lebanese ownership of real estate in Türkiye 2023
It is not possible to predict the ability of the Lebanese to increase the recovery of buying apartments in Turkey during the next year, but the matter is clearly related to the existence of solutions to the Lebanese crisis and the possibility of banks recovering and returning to work normally, with the possibility of investors withdrawing their money from the banks.
In the event that a solution to the Lebanese crisis occurs, there will be a large and clear demand for real estate ownership with the money of the Lebanese in Turkey, but if things remain as they are, the share of the Lebanese in Turkish real estate sold to foreigners will most likely decrease below the advanced ranks that they have achieved during the past years.
See the article: Apartments for sale in Türkiye
Elements of ownership of the Lebanese in Türkiye
There are many factors that drive Lebanese residents to own property in Turkey, which are represented in the following points:
Real estate prices in Turkey are relatively lower than real estate prices in foreign markets that the Lebanese usually desire, such as the Canadian and American real estate markets. The average price per square meter in Turkey ranges between 800-1100 US dollars, while the average price per square meter in Canada is 11000 US dollars. In the United States of America, 17,000 US dollars, the difference is very large
Real estate laws in Turkey encourage ownership and there are very few restrictions on foreigners
There is a large Arab community in Türkiye, which helps the Lebanese settle in this country
Today, Türkiye has become one of the golden destinations for foreign real estate investors, not just the Lebanese.
