Overseas buyers of Turkish real estate often opt for properties in the country’s major cities. Istanbul, Ankara, Izmir, and Antalya are the top four cities selected. Turkey remains a popular destination for those seeking shelter in a comfortable apartment, as well as investors looking to make a profitable investment and tourists seeking well-being and relaxation in the arms of nature or the depths of history.
As a result, foreigners searching for property in Turkey have been in high demand in Turkey’s real estate market. This demand has risen due to the weak economic conditions in neighbouring countries and the strengthening of the dollar against the Turkish Lira, allowing buyers to find the best assets at the best prices.
Real estate figures in Turkey
According to official figures, the Turkish real estate market has experienced phenomenal growth in the last five years, with approximately 138 thousand properties sold to foreigners. It shows that Iraqis are on top of the list of foreigners who have bought 2420 properties in Turkey within the last five years, followed by Saudis who have bought about 1200 properties. The Iranians purchased 8987 properties, which were reported in the statistics, and the Russians increased the value of 8897 properties.
Think about it, now is the best time to join the Turkish real estate market after it has proven time after time its value and ability to face challenges, as well as its ongoing stability as a competitive sector at all levels.
Overseas buyers chose cities in the following locations:
Istanbul has remained at the top of the list of best-selling cities for property for sale in Turkey for the past five years, accounting for 17% of total real estate sales in Turkey. Foreign investors continued to look for apartments for sale in Istanbul, especially on the European side of the city. Istanbul’s ranking is due to several characteristics that distinguish this area, which combines the past and present in fantastic harmony, transports you from building to building, and presents you with a broad horizon into the future.
Compared to the same time in 2018, real estate sales to foreigners in Turkey increased by 82% in January 2019. Ankara, Turkey’s capital, was ranked second in the 2018 list of best-selling cities in real estate, accounting for 9.5% of the country’s total real estate sales, and it held that spot in 2019 with 9,491 properties sold. Ankara is the world’s second-largest city, after Istanbul, since it is Turkey’s political capital, where diplomatic activities are concentrated, and its central location makes it a significant hub of trade and industry.
Izmir is Turkey’s third most populous city, after Istanbul and Ankara. It is located on the Aegean coast west of Anatolia. It is distinguished by its picturesque environment and charming natural surroundings. This city was ranked third in Turkey’s best-selling real estate cities in 2018 and 2019.
Bursa is the administrative capital of Bursa Province in northwest Turkey. Bursa, Turkey’s fourth-most populous city and the second-most populous in the Marmara Region, is one of the country’s industrial centres.
Antalya, a city along the Mediterranean coast, is a popular tourist destination. Property for sale in Antalya has been one of the most successful real estate markets in recent years. Nonetheless, in July 2019, it moved to second place to capture Ankara, Turkey’s capital. Antalya, in southwestern Turkey, attracts tourists with its magical nature, which reflects the coastal slopes between the beaches and the Taurus Mountains surrounding it. Antalya is a well-known vacation destination that draws visitors from all over the world.
Why do Brits invest in the Turkish property market?
According to statistics, the British have a strong affinity for Turkey, and over 32,000 British nationals have purchased a property in the country. UK citizens have purchased more properties in Turkey than any other international buyer to date. Why do Brits buy in Turkey? 300 days of sunshine and mild winters, plus affordable holiday homes, it’s their go-to destination.