Turkey is the second in the world in the activity of the real estate sector
Development of The Real Estate Sector in Turkey and the World
The real estate sector, which is one of the most important elements of the economy all over the world, continues to increase its importance with the increase in human travel in the globalizing world. The real estate sector affects not only the construction sector but also many sub-sectors and makes a serious contribution to the national economy and employment. It also plays a major role in the development of the economy of countries with its contribution to employment and economy. In addition, real estate sales to foreigners in countries contribute to the national income of the country, and foreign currency inflows are provided to the country.
The construction sector, which started to develop in Turkey in the 1950s, has come a long way in a short time and has become a worldwide leader. Today, Turkish construction companies are preferred in real estate and construction investments in many countries of the world. Turkish construction companies, which provide rapid development and build quality structures, continue to operate all over the world. Along with the Turkish construction sector that developed in a short time, the real estate sector in Turkey has also developed rapidly. Real estate for sale in Turkey, which has luxury and quality real estate, attracts great attention from foreign investors. Government policies and incentives have also had a great impact on the development of the construction sector in Turkey.
Despite the development of the construction sector in Turkey, the real estate sector followed a stagnant course until 2004. Especially foreign investors cannot easily buy real estate in Turkey due to the principle of reciprocity. With the reciprocity law enacted by the Turkish Government in 2012, the obstacles to the sale of real estate to foreigners were removed. Turkish real estate, which started to attract the attention of foreign investors with this law, became the center of attention in a short time. In addition, the VAT exemption incentive for foreigners, the lowering of the lower limit of citizenship, and the decrease in real estate prices to reasonable prices for foreigners due to the increase in the exchange rate contributed significantly to the rapid increase in real estate sales.
The Turkish construction industry, which has a very important place all over the world, continues to make a name for itself with its quality and luxury structures. A significant portion of real estate investors in the world prefer quality and modern projects in Turkey for their investments. Real estate in Turkey always gains in value and provides great gains to its investors. For this reason, foreign investors invest in Turkish real estate. Despite the Covid-19 pandemic, the real estate sector in Turkey gained value in 2020, and construction investments continued.
Turkey is the second in the world in the activity of the real estate sector
In 2020, records were broken in the number of sales, sales value, and title deed fees of residences, workplaces, land, and fields in Turkey. According to the number of real estate sales made in 2019, despite the pandemic, the number of real estate sales increased by 11.2% in 2021 and became 1.499.316.
The highest number of residences was sold in Istanbul with 382.458. Ankara was followed by Ankara with 215.589 units, İzmir with 144.463 units, Antalya with 104.160 units, and Bursa with 100.952 units. The number of real estate sales in Turkey in the first 4 months of 2021 was announced by the Land Registry and Cadastre Directorate. As always, it was stated that the highest share in real estate sales belonged to residential sales. According to the figures announced, a total of 851.612 real estate sales were realized in Turkey in January, February, March, and April 2021. According to these figures, in the first four months of the year, 345.232 residences, 154.868 lands, 246.370 farmlands, and 40.047 commercial units were sold.
Turkey is the second in the world activity in the real estate sector with affordable and luxury housing options. Despite the coronavirus pandemic, the rapidly increasing demand signals that a new record level will be reached in 2021. The real estate sector in Turkey, which attracts great attention with its location in the center of the world, offers real estate options suitable for every budget and request.
It's time to buy real estate in Turkey for foreign investors
The Turkish economy, which is dependent on the political infrastructure, displays a risk-sensitive attitude. The foreign policy attitudes of the Turkish Government, the increasing economic problems with the epidemic, the uncertainty in the markets, and the tourism activities that have come to a standstill have caused the Turkish Lira to be negatively affected. The Turkish lira, which was adversely affected, also depreciated in the global economy market. Although this situation has temporarily negatively affected the Turkish people, it has created unique investment opportunities for foreign investors.
When you decide to buy real estate in Turkey, you should definitely work with a professional and reliable agency. A professional investment consultant has full knowledge of the characteristics of the region you want to invest in, the value increase of the region, and the values of the surrounding real estate. An expert real estate agent will prevent you from making a bad investment and save you money and time. It informs you about the legal procedures that you are not in control of in a foreign country and prevents you from experiencing negative and unwanted situations. The expert and experienced sales consultants of Diyar Turk Real Estate are always ready to give you the best service before and after sales.
You can contact the professional and experienced sales consultants of Diyar Turk Real Estate on our website or contact us via info@diyarturk.com to get more information about real estate prices and real estate for sale in Turkey.
