Turkey's real estate stock reached its highest level during the first quarter of 2020, becoming the most important and prosperous investment sector within the country.

The real estate stock in Turkey achieved a high rate during the first period of 2020, within the framework of the urban and urban development that the country has witnessed in recent years, and the consequent attraction of capital and investors from all over the world.

Turkey has provided foreign investors with highly profitable competitive investment opportunities, which has contributed to the development of the real estate sector and its transformation into one of the most important economic pillars within the country. This is our topic in this article in which we will present the most important statistics on the real estate stock in Turkey.

Reasons for Real Estate Growth and Investment in Turkey

Turkey's political and economic stability prompted investors to invest in it, especially since it has become a safe haven for many Arab and regional communities that have suffered from unstable conditions in their countries, so they wished to acquire a residence in Turkey.

Basically, the investment growth of real estate in Turkey, which has become one of the most important economic sectors in it, is due to many reasons, the most important of which is the clear support provided by the Turkish government to foreign investors, and legal facilities for them in all respects, in addition to the development of the country’s infrastructure, and the enactment of laws that guarantee rights Contracting parties in investment and banking operations.

Not to mention that Turkey is a tourist country with a wonderful atmosphere, stunning scenery, and wonderful beaches that attract millions of tourists annually, making it the focus of everyone's attention.

Turkey also offers many encouraging incentives for foreign investors, foremost of which is the possibility of obtaining permanent real estate residence after purchasing a residential or commercial unit in it, in addition to the possibility of obtaining Turkish citizenship when buying a property worth 250 thousand dollars or more.

It is also noted that the high population in Turkey is helping to open new horizons for a distinguished market, as the population of Turkey reached 84.4 million in 2021.

Prices of Residential Apartments in Turkey

Real estate prices in Turkey are always competitive compared to neighboring countries, and as a result, they are suitable for all types of investors, as the promising opportunities in the Turkish real estate market have become a destination for investors from different countries of the world.

Statistics indicated that the price per square meter of apartments in Turkey averaged about 2,231 Turkish liras, according to the records of the Tabu Department in Turkey, while the Mugla state recorded an average of 4,446 Turkish liras per square meter, achieving the highest price level among the Turkish states.

On the other hand, the states of Hakkari, Agri and Mardin recorded the lowest average price per square meter in their apartments. The average price in Hakkari was 917 liras, and in Agri 976 liras, while in Mardin it reached 1003 liras.

Capacity of Real Estate Stock for Apartments in Turkey

The real estate stock in Turkey at the beginning of the year 2020 amounted to about 904,052 apartments distributed over 81 Turkish states, according to the report of the "INDEXA" platform, which is interested in Turkish real estate market statistics.

Istanbul achieved the highest rates with an average of 260,903 housing units, followed by Ankara with 130 thousand apartments, while Izmir ranked third with a rate of 76,044 housing units.

Then the states of Antalya and Bursa came in the fourth and fifth places, respectively, and the last place was for the Hakkari state, with an average of 35 apartments.

Investment Share of Countries in Turkish Real Estate

According to recent statistics related to the top 20 foreign nationalities buying residential real estate in Turkey, 8 Arab countries came, including Iraq, Yemen, Jordan, Kuwait, Palestine, Egypt, Lebanon and Saudi Arabia, with a total of 13,26 thousand properties during 2020.

In the first quarter of this year 2021, the number of properties invested by foreigners inside Turkey reached 10,000 housing units, while it was 11,000 in the same period of last year 2020.

Turkey has become one of the most preferred countries by foreigners for real estate purchases for the purpose of housing or investment, despite the Corona pandemic, real estate sales to foreigners in 2020 reached 41.3 thousand units, while it was 46 thousand in 2019.

At the international level, Iranian nationality topped the percentage of countries buying residential real estate in Turkey with a total of 7,189 properties during the year 2020, while in 2019 it was an average of 5423 properties.

As for the second place globally and first in the Arab world, it was the share of the Iraqi nationality, whose share of real estate investment was 6,674 properties in 2020, while it had reached 7,596 properties during 2019.

Russian nationals ranked third in the world with a total of 3,078 properties in 2020, up from 2,893 units in 2019.

Real Estate Market Future for 2021

According to the report of the Turkish Statistical Institute on the real estate market, the year 2021 is expected to witness an increase in the number of foreigners coming to real estate investment in Turkey, after counting the number of properties sold during February 2021, which amounted to about 2,964 housing units.

On the other hand, the report revealed that the year 2020 witnessed a 12% increase in sales compared to 2019, as 2019 sales amounted to about 1,499,316 housing units.

Realizing the importance of investing in the Turkish real estate market and that it is an opportunity to reap a lot of profits has become evident through the statistics and figures we presented, especially in light of the continuous facilities approved by the Turkish government in this regard, which helped increase investment in the Turkish real estate sector, Until it became a golden opportunity for profitable investment, which is reflected in the real estate stock figures in Turkey, which continue to rise year after year.

You can now contact the Deyaar Group team to get acquainted with the steps of investing in Turkey and its benefits, and then get the right advice to reach the most appropriate choice for you to invest your money by buying a property in Turkey.

Edited by: Deyaar Group^©

Sources: endeksa.com, Turkish Statistical Institute, Anadolu, Zaman Turkish Newspaper