Despite a decrease in terms of units sold during the pandemic, Turkey’s real estate sales to foreigners are expected to hit $7 billion due to an upward trend in buyer profiles, a sector representative has said.
“We have been selling real estate to foreigners since 2010. We also organize promotional activities and events abroad to attract investors to Turkey,” Real Estate International Promotion Association (GIGDER) Board Member Fatih Ergüven told Anadolu Agency (AA) on Friday.
Ergüven, who is also the chairperson of the real estate company, Inhouse Global, said Turkish residential sales to foreigners significantly increased since the 2013 reciprocity law, contributing to the country’s real estate sector. He added that significant numbers were recorded during that period despite all the challenges.
“For instance, despite the pandemic, some 26,000 units were sold to foreigners during the January-September period this year,” he said.
“Figures for October have not yet been announced. However, the data we receive from the sector is very good. We think the figure will be around 6,000 units. We can easily pass 35,000 and reach even 40,000 over the course of the year.”
Ergüven pointed out the high potential of Turkey’s real estate sector and said by using real estate investment funds more actively and carrying out more effective promotion events, higher figures can be reached easily.
