Turkey breaks all-time record in property sales to foreigners in first half 2019

Turkey breaks all-time record in property sales to foreigners in first half 2019
Posted on: 10 Aug 2019

Turkey which has taken some big steps to boost its tourism sector after some tackling issues a few years ago, now enjoys substantial demand from travelers wishing to visit this country with so much to offer. To parallel this positive development, Turkey also seems to be keeping her image as the most preferred country in its region for foreigners to live in as a second home. 

In fact, based on reports provided by TUIK and Central Bank it was announced by sector officials that 19 thousand 952 units had been sold to foreigners and US$ 3 billion of income had been obtained from this sale in the period to cover first 6 months.

The number of housing sales to foreigners, which was 11 thousand 816 in the January-June period of last year increased by 68.9 percent in the same period of 2019 corresponding to an increase of 30.5 percent.

Mr. Tolga ERTUKEL, director of Turkey Homes, the leading international real estate company specializing in property sales in Turkey says the upward trend observed in 2018 is continuing this year as well and notes the figure recorded for first half of the year is an all-time record in property sales to foreigners. Mr. ERTUKEL also states the sector will now be targeting a figure of 50,000 homes on yearly basis.

Based on Mr. ERTUKEL’s statement Turkey Homes sold 189 homes in 2018 and the company has targeted to increase this figure to 250 homes in 2019.

As for the break-down of sold property according to regions in the first part of the year, Istanbul was the leading town with a sales figure of 8 thousand 903 houses followed by Antalya with 4 thousand 93 houses and Ankara with 1 thousand houses.

According to CBRT and TURKSTAT data, the average price paid by foreigners in the first half of 2019 was calculated at US$ 150 thousand per house.

As a final note Mr. ERTUKEL also comments that ANTALYA which is the second most attractive spot for foreigners wishing to buy a home in Turkey is destined to challenge Istanbul in the coming years, thanks to its beautiful climate, unparalleled location very close to many historical attractions and goes without saying sun and sea offerings. In fact, Turkey Homes has started publishing brand new a web page with www.propertiesantalya.com address for property for sales in Antalya.

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