Foreigners buy up real estate
According to a recent report which evaluated foreign investors, it was found that when purchasing real estate in Turkey, Jordanians prioritise investment and want to gain citizenship; Russians prioritise short-term holidays and retirement; whereas the British prioritise establishing a permanent life here as well as seeking education.
As a result, house sales in Turkey grew by 16.3% between the years 2015-2020. The rate of sales to foreigners, which was 1.7% in 2015, rose to 2.7% at the end of 2020.
Investment first, holiday second!
The research was conducted with a total of 410 international investors from 48 different countries with a real estate investment background in 12 cities in Turkey. It was found that with 45% of foreigners, the primary reasons to buy real estate was for solely investment purposes. 30.5% of people were buying because they want somewhere to take short term holidays and 27.8% of people polled said they were buying to live in Turkey permanently. Whereas 27.6% of people were investing in citizenship reasons and 23.7% stated that they purchased property in order to retire to Turkey.
British purchases reveals that they want a permanent life
When the data was analysed country by country, it revealed that 89.5% of Jordanian citizens purchased real estate in Turkey entirely for investment purposes and 84.2% because they want to obtain citizenship. For Russian investors, it’s a different picture, in that they purchase property with the view to take short-term holidays at 76.5% with 35.3% admitting they purchase with a view to retirement. However, the British purchase real estate with 50% saying they are pursuing a permanent move to Turkey and 25% for education purposes. In the research, it was noted that Iranian Citizens are among the countries that buy residence permits with 46.2% and real estate with 23.1% saying it was for commercial reasons.
Where in Turkey is the preferred place to invest?
Interestingly, Istanbul ranks first with 61% of, followed by Antalya at 27.4% of foreigners' preferences for purchasing real estate. It is said in the report that Turkey is in an attractive position for housing investment which the data clearly corroborates. Summer homes state that when looking at all the regions in which we serve, we offer various payment alternatives so even if someone can’t make a full payment, we can offer a variety of methods to help them purchase real estate. It is our priority to have customer satisfaction and happiness.
About Summer homes
Property investment in a foreign country is a serious decision, our company offers our customers a trustworthy and honest consultation concerning property purchase in Turkey. As the team of professional brokers for foreign buyers, we understand our customers taste, interest and desire for the quality and details. The representatives of Summer Home will guide you during an inspection trip. We will provide you with information, professional and reliable services during purchase process; for your convenience in English, German, Dutch, Slovak, Swedish, Russian, Polish, Arabic, Persian or Turkish language.
Due to our strong market knowledge, as a competent partner at your side, we offer you a personal attention, assistance and service pre and after your purchase. Summer Home Real Estate's motto is to satisfy the customers to ensure that our services are designed to your specific needs and requirements. Your satisfaction is our success.