Nearly 20,000 apartments sold to foreigners during the first half of 2019
Last Updated: 2020-07-06
Sales of residential real estate units to foreigners in the first half of 2019 increased compared to the same period last year by 68.9% to approach the threshold of 20,000 apartments (19,952), according to the semi-annual report of the Real Estate Investment Fund (GYODER).
In its report, the Fund also stated that the low interest rate on bank loans had led to this increase in the sale of Turkish real estate.
In detail, the report mentioned that real estate sales to foreigners in Turkey increased significantly in the first quarter of 2019, compared to the same period last year by 81.5%
This percentage of sales continued to advance in the same chart to reach 19,952 housing units during the first half of this year, a marked increase over the same period last year by 68.9%
In the second quarter, Istanbul First received 44.3% foreign housing sales, while Antalya came in second with 21.2%. During the same period, these properties were sold to investors from Iraq, Iran and Russia. According to the sources in the Turkish real estate market,The average value for an apartment is $135,000 and is expected to reach $150,000 in the first half of this year, In addition to that the sales of apartments for foreigners in Turkey, record edited last year2018 January, February and March revenues for the past three months were $436 million, $440 million and $424 million, respectively, Total real estate sales to foreigners in Turkey this year are expected to reach 7.5$billion.
Real estate Articles
Real estate News
