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Revival of the Real Estate Market in Türkiye

26/02/2024 Investment in Turkey 223 Revival of the Real Estate Market in Türkiye

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According to the assessments that were conducted by major Turkish construction companies, they indicated the upcoming recovery in the real estate market in Turkey for the year 2024, as the Chairman of the Board of Directors of the company / Nef / Erden Timur conducted assessments on how the real estate sector in Turkey  will proceed in the year 2024, and Timur mentioned in his speech that the improvement in The sector will occur in the second quarter of 2024.

The goals and expectations for the new year were announced for the real estate sector, which ended the year 2023 above the target numbers with noticeable progress. The real estate sector, which hopes to achieve its goals again in 2024, is awaiting improvements in the economy and important names in the sector have made assessments regarding how the process will proceed and when the housing sector will revive.

Mr. Erdin Timur, Chairman of the Board of Directors of Nef, who spoke about the future of real estate in Turkey in the news bulletins in Habertürk, mentioned all the numbers that were reached in 2023 and the expected and targeted numbers for the year 2024. He also mentioned that the real estate sector is going through a historic period for the purpose of removing the negative effects of the pandemic process. And the mobilization of markets last year. Mr. Arden gave a date regarding the revival date in 2024, as he said: I think that 2024 will be a good year, especially the second quarter.

Real estate investment in Turkey is the first choice for foreigners:

The year 2023 was an active year in real estate sales to foreigners in Turkey, according to what was stated by the Chairman of the Board of Directors of In House Company, Mr. Fatih, and this activity will increase further in the year 2024. According to the news reported by the Turkish newspaper Taqmeem, reports indicated that the countries that were chosen by foreigners were highlighted. To purchase real estate, as Turkey was the most popular destination for purchasing real estate and investments despite the pandemic period.

The Iranians, Afghans, and Russians topped the countries that preferred Turkey, in addition to many Arab countries. They were the first to buy Turkish real estate and move towards Turkish investment. According to the news received, real estate sales in Spain, Greece, and the United States of America declined compared to the Turkish real estate market, which is becoming more active day after day.

Turkey was at the forefront of the ten countries in real estate sales in 2023, despite the spread of the epidemic that affected most countries in the world and thus its impact on the economy was clear, and it broke records in real estate sales to foreigners.

Türkiye broke records in real estate sales to foreigners. Although it decreased by 10.3 percent in 2023 compared to the previous year from 45 thousand 483 to 40 thousand 812, the second highest sales figure in history was achieved.

According to the report prepared by the Turkish company In House, on visa applications between countries, Turkey is classified among the countries most preferred by foreigners, especially for purchasing real estate and investments.

Attention can be drawn to the fact that real estate sales to foreigners in 2023 were promising and that this growing momentum will accelerate further in 2024. According to the data and solid ground for foreigners’ interest in real estate investment in Turkey .

 

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