Istanbul and Antalya are the most selling cities for real estate in Turkey in 2020
Istanbul and Antalya were at the top of the list of Turkish cities that sold real estate to foreigners in 2020, and Ankara came in third place.
According to data – the Turkish Statistics Authority – published by the Anatolia Agency, on Sunday, November 29, 14 thousand and 424 properties were sold to foreigners in Istanbul during the first ten months of 2020, and in Antalya 6,053 properties during the same period.
Statistics stated that the total real estate sold to foreigners in (Istanbul and Antalya) reached 65.2% of sales across the country.
In Ankara, the number of properties that were sold to foreigners reached 2,176, followed by Bursa with a thousand and 68 properties.
The statistics showed that the total real estate bought by foreigners in various Turkish states during 2020 amounted to 31,423 properties.
Where the head of the Association for Real Estate Promotion Abroad – Omar Faruk Akbal – expected the volume of real estate sales to foreigners to continue to rise in Istanbul and Antalya, noting that work is currently underway to promote the rest of the Turkish states that have attractions for foreigners to live in.
He added, “The volume of real estate sales to foreigners in Istanbul is almost similar to those in London and New York.”
While the Chairman of the Board of Directors of “Helman” Construction Company – Salman Ozgun – expected a rise in the volume of real estate sales to foreigners in the state of Antalya to about 8,000 properties by the end of 2020.
The Turkish government provided several facilities for foreigners to obtain the Turkish nationality, as it made amendments in September of 2018 to grant Turkish citizenship to foreigners in exchange for buying a property, operating, investing, and depositing in Turkish banks.
The amendments stipulated more facilities, such as: Buying a property with a value of not less than 250 thousand dollars through which you can obtain Turkish citizenship instead of the previous value, which was estimated at one million dollars, but provided that the property is not sold within a period of three years.
It also stipulated a minimum deposit of $ 500,000, compared to $ 3 million in the previous law.
On December 7, 2018, the Turkish authorities made new amendments that increase the facilities in the same manner, as it stipulates the possibility of granting citizenship to owners of “unfinished” properties valued at $ 250,000, after they had required that the properties be completed and not under construction.