- 2020-08-09 12:08 PM
- Economic News
Important statistics and figures on turkey's real estate stocks
Turkey has witnessed a broad urban and urban renaissance over the past years, which opened the way for foreign investors from all over the world to come and invest in it, after it provided them with competitive investment opportunities with high advantages and high profits from investment in other countries, and the field of real estate investment is one of the most important investment sectors The most prosperous in Turkey, real estate stocks in the Republic of Turkey reached its highest levels during the first quarter of 2020, and in this article we will talk about the numbers and the most prominent statistics on the field of urban and real estate investment in Turkey, to get together on the extent of the promising opportunities in this sector.
Distribution of market shares of residential apartments in Turkey
Endeksa.com Based on data updated periodically, the real estate stock of apartments across Turkey in January 2020 reached more than 900,000 apartments, distributed nationwide in 81 Turkish states, and istanbul state led the lion's share of real estate stock of apartments with 260,000 housing units.
And then comes the capital Ankara came in second place and reached the number of apartments confined within the real estate stock 130 thousand and 3 apartments, while the state of Izmir, which came in third place with the number of apartments with 76 thousand and 44 units, then the state of Antalya and the state of Bursa, in contrast the state of Hakari had the lowest share of the stock of apartments, its share was only 35 housing units.
Price per square meter in apartments
The Turkish real estate sector is one of the most important economic pillars of the state, after Turkey witnessed a civilized urbanization in all sectors attracted capital from around the world, real estate prices are competitive compared to neighboring countries and suitable for all classes and investment levels, and because it is a promising market with profit opportunities for the investor, and published in its statistical report that the average price per square meter for residential apartments across Turkey is equivalent to 2231 TL.
The highest average price per square metre in Turkey came in Mugla state, with an average price per square metre of 4,446 lire, while Hakkari state recorded the lowest average price per square metre in Turkey and the average price per meter was about 917 lire, followed by Agri state, where the average price of a meter of property was 976 lire, and mardin, where the price of one meter was around 1003 lire.
Why is real estate and urban investment growing in Turkey?
The real estate investment sector is a huge and growing sector in Turkey, for a number of reasons, notably the strength and development of Turkey's infrastructure, the distinctive facilities of legislation and laws on investment and banking transactions, and government support for foreign investors, and the rise of turkey's population has opened up wider horizons for a strong and prosperous market, with a population of 82 million.
As a tourist country attracting tens of millions of tourists annually, turkey's political and economic stability has encouraged investors to invest in it, and the turmoil and wars in some countries of the region have made Turkey a stabilizing destination for many of the Arab families, in addition to the advantages granted to anyone who buys or invests in a property, such as obtaining permanent real estate residence or obtaining Turkish citizenship if the price of the property is estimated at $250,000, all of this was one of the reasons for the further growth and development of real estate investment areas in Turkey.
Countries most invested in real estate according to recent statistics
The number of properties purchased by Iraqis in 2019 reached 7,596, followed by Iranians with 5,423, Russians 3,893, Saudis with 2,208, and Afghans 5,596.
Real estate market forecast for 2020
The increase in foreign investment in Turkey is expected to continue to increase, as reflected in sales figures for the last three months (January-February-March) compared to the same period last year, and there is a growing interest in facilitating legal and procedural matters for the benefit of the foreign investor, which will mean greater confidence and attracting more capital through increased sales of real estate.
The real estate industry in Turkey is a golden opportunity for profitable investment, with the highest safety rate being a mobile market in the face of constant supply and demand and this makes it attractive to foreigners, as well as the continued support and incentives provided by the Turkish government, so it is a real opportunity for anyone who wants to settle or invest in Turkey.