Purchasing a Turkish property in a major city is a popular choice among foreign real estate investors in Turkey. Istanbul, Bodrum, 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 around 2420 apartments and villas in Turkey during the past five years, followed by Saudis who have bought about 1200 properties. The Iranians purchased 8987 properties reported in the statistics, and the Russians increased the value of 8897 properties.
Now is the best time to join the Turkish real estate market after it has proven its value and ability to face challenges, as well as its 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 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.
Bodrum, in western Turkey, is a popular destination for international property buyers. It attracts many nationalities looking for holiday homes or a place to call home in the region, among other Aegean and Mediterranean coasts. Since the town centre of Bodrum is the centre of tourism, a property like this is a superb buy-to-let purchase. Bodrum is a vibrant coastal resort and a popular tourist destination in Turkey’s Mugla Province, on the southwest Mediterranean coast. Bodrum is one of Turkey’s most popular holiday towns and largest resorts on the Aegean coast, with its vibrant nightlife, stunning beaches, historical sites, high-quality hotels, and holiday villages.
Izmir is the third most populous city within Turkey, after Istanbul and Ankara. It is located on the Aegean coast west of Anatolia. It is most known for its picturesque environment and charming natural surroundings. This city was ranked third in Turkey’s best-selling real estate cities in 2018 and 2019. Izmir is a proudly liberal and culturally sophisticated city. Since ancient times, when it was the Greek city of Smyrna, it has been a significant Aegean Port, and its seafront promenade is as attractive and lively as any in the world.
Antalya, sits on the Mediterranean coast, is a popular tourist destination. Antalya is one of the most desired 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 sea and the mountains surrounding it. Antalya is a well-known vacation destination that draws visitors from all over the world.