According to the Turkey Statistics Institute (TUIK) data, the number of houses sold to foreigners during January-July increased by 64 percent compared to the same period of last year.
According to the latest data released by the TUIK January-July period, the number of houses sold to foreigners, while 14 thousand 674 last year, the same period this year, an increase of 64 percent in the same period amounted to 24 thousand 144. At the first of the provinces where foreigners took housing, Istanbul took the lead with 10 thousand 806 houses in the period until the end of July, while Antalya took the second place with 4 thousand 857 houses and Ankara took the third place with 360 thousand houses. In the first 7 months in Izmir, housing sales to foreigners increased by 85.6 percent compared to the same period of the previous year and became 414 houses.
According to the nationality of the country in sales of housing in Iraq with 4 thousand 71 houses lead. Iraq was followed by Iran and Russian Federation citizens. The number of housing Turkey has received from citizens of the Russian Federation, the first 7 months of this year compared to the same period of the previous year, an increase of 49.6 percent reached in 1479. The province with the highest number of housing purchases in the Aegean Region was Muğla.
WHAT SHOULD BE CONSIDERED IN THE SALE OF HOUSES TO FOREIGNERS?
With the purchase of housing in the same way that foreigners have the residence permit of their spouses and children reminded the authorities, it evaluated the increasing demand. Foreigners, for investment purposes, also pointed out that the demand for housing authorities, said:
“If we evaluate the situation in terms of economy, it is a primary factor that foreigners turn to housing demand for investment purposes besides citizenship and residence permit. Although there is a limited period of a sale, first of all, it should be determined whether the foreign country’s demand is made by a real person or legal person. At this point, the reasons for which foreigners demand housing such as investment, tourism, living conditions or work should be determined and separate regulations should be introduced accordingly. For example, the upper limit of the immovable, the location of the settlement, especially for legal entities, such as the total amount of immovable property should be considered.”
CHINA’S GREAT POTENTIAL
Stating that the recognition of the right of citizenship through the purchase of foreigners’ housing may also create a triggering factor in the purchase of housing for the citizens of the People’s Republic of China, where Russia, as well as other bilateral relations, have developed, the authorities said, “In 2019, together with Mexico and India, Exporters Union’s commercial collaborations studies and promotional activities focused on these countries. Was declared the government’s 100-day action plan situated procurement delegations to these four countries, trade missions, activities such as fairs and visits with Turkey, perception surveys are also organized. Another goal is China’s market size and potential have also increased the marketing activities of housing companies towards the country, which we will see sharply in the following periods. It is important for the fact that the existing regulation will increase the sale of housing will create an economic impact, especially foreign trade.” he said.
Chief editor of Invest Guide Turkey. Graduated from the Business Administration programme on 2014 and works as a journalist in the field of Foreign Investments in Turkey for 5 years.