Searching for apartments for sale in Turkey for Saudis is considered one of the distinctive ideas among the people of the Kingdom, especially real estate investors, for several reasons that we will discuss in this detailed report, along with information supported by statistics and numbers, and an analysis of the best ownership options for Saudis in Turkey, real estate prices in Saudi riyals, and other relevant information and details. particularly important in this context.
Featured article from Al Fanar Real Estate, read to the end
Statistics of apartments for sale in Türkiye for Saudis
In the world of investment, the truest hadiths are supported by accurate official statistics, where it is possible to identify the reality of Saudi ownership in Turkey during the past years and the state of stagnation in this aspect during the last period, up to the possibilities of a strong return to the real estate market in Turkey after the improvement of Saudi-Turkish relations.
Let's look at the official statistics according to the following data:
Saudis owned property in Türkiye before 2019
The year 2015 is actually estimated to be the year of the actual launch of real estate ownership in Turkey by the Saudis, as they seriously accepted ownership and became second to foreign nationals owning real estate and apartments in Turkey.
Between 2015 and 2018, the increase in the number of homes purchased by Saudis in Turkey was estimated at about 110%, according to official statistics issued by the Turkish National Statistical Authority.
The commission also estimated that the areas of real estate owned by Saudi residents in Turkey during that period were about one million square meters, and thus the Saudis were the most foreign nationals owning real estate in terms of area.
The number of properties in Turkey sold to Saudis began to gradually decline, affected by the political situation and the differences that arose between the Republic of Turkey and the Kingdom of Saudi Arabia in the last quarter of 2018.
And if there was no official boycott from the two countries, the political reality returned the Saudis in Turkey to the fourth place in real estate ownership in Turkey for the year 2019, and this year marked a turning point in the Saudi demand for ownership in Turkey and the beginning of a decline.
Saudis own property in Türkiye between 2020 and 2022
The sharp decline in the statistics of apartments for sale in Turkey for Saudis in 2020 increased greatly, affected by the "Corona" pandemic, which disrupted the travel and tourism plans of millions of foreigners in Turkey, and de facto the Saudis had their share of the inability to visit Turkey, and thus the ownership wheel declined dramatically .
In 2020, the Saudis bought only 679 properties in Turkey, and thus their share of total foreign ownership in Turkey was only 1.64%, and they fell to 17th place that year.
And the year 2021 was the worst year for Saudi investment in all economic sectors in Turkey, not just the real estate sector, and Saudi Arabia had no ranking in the list of the 20 most foreign countries that own real estate in Turkey, and the sale of real estate and apartments to Saudis was only recorded in very small numbers, which were in Istanbul and Yalova.
The percentage of Saudi ownership in that year was about 0.30%, or only 177 homes.
Until the middle of 2022, the Turkish real estate sector did not witness any noticeable Saudi turnout, but after the improvement of relations between Turkey and Saudi Arabia, observers expect a quick and strong return to the recovery of this sector with Saudi investments, and this is what we can see in the statistics at the end of this year, perhaps.
Read more about this topic: Saudi ownership in Türkiye
