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Why is Turkey an attractive country for foreign investors? speaking at the panel Turkish iClassified Manager, shared the developments in the Turkey Real Estate and Houses sector with the participants.
Turkish iClassified Manager, said at the Fair, Why is Turkey an attractive country for foreign investors? In his presentation on the panel entitled, he emphasized the importance of real estate investment in Turkey for foreign investors by passing on numerical data. Stating that there are three important factors affecting housing demand in Turkey, Turkish iClassified Manager noted that these factors are Population Development, demography and household change, investment trends and property status.
Population and demographics are improving the real estate sector
Turkey which had a population of 80 million in 2016, reached 82 million at the end of 2019, where the annual population growth had more stable increase than countries such as Germany, France and Spain. According to the demographic distribution, 48 percent of the population is under the age of 30, he said, while the population below the age of 40 rose to 64 percent. In terms of investment trends and property situation, the rate of home ownership is 59 percent and the rate of tenancy is 24.1 per cent, he said, adding that the rest of the population lives in houses belonging to their families. Manager said that 50 percent of Turkey’s total population lives in 10 major cities, and that about 50 million people live in these cities.
Assessing the numerical data from the point of view of the Turkey Holiday Property sector he said: “These data show that it is imperative that the Turkey property and homes sector continues to grow. The current housing stock in the big cities cannot meet demand. While there is a surplus of supply in some segments, this is concentrated in a very narrow area and in very limited areas. The need for Accessible Housing continues. Due to this mobility of the population, it is inevitable that Turkey Housing needs will continue for at least the next 10 years. As there is a need for growth in housing, other segments are developing naturally as well. Changing settlement and population mobility are improving needs such as housing, education and educational student housing. Commercial space dynamics, storage space and logistics are also needed. On the other hand, health-related Turkey Land Investment opportunities also come as the population ages.”
150 thousand houses sold per month in Turkey
Stressing that an average of 150 thousand houses are sold per month in Turkey, Manager said that 1.8 million houses change hands per year and that the total sales of houses in the last three years recorded a 16 percent increase. Looking at the use of housing loans, one of the three houses already sold with mortgage loans expressed printers, the last 12 months used by 17 percent growth of housing loans reached 274 billion TL underlined. Stating that non-performing loans did not grow at the same pace as housing loans, Turkish iClassified Manager said that this was an important indicator of Turkey’s outlook for housing. The share of non-performing loans in total loans is only around five per thousand, Manager said.
Mugla, Istanbul and Antalya are the top three in investment
Referring to which countries investors invest in which Turkey holiday property regions in Turkey, Turkish iClassified Manager said: “as of the end of 2019 we see that citizens of Iran, Iraq, Afghanistan, Saudi Arabia, UK, Kuwait, Germany, Qatar, USA, Russia, Azerbaijan and United Arab Emirates, respectively have bought property on the basis of property acquisition hitting the stock. The top three ranking of investors who preferred Turkey in 2020 are Mugla, Istanbul and Antalya Homes And Apartment.
As of 2020 the top three investor groups are Iran, Iraq, Saudi Arabia, Germany and the United Kingdom, respectively. Qatar, the US and the UAE are among the top 10 in 2020. The new countries in the top 10 are Lebanon, TRNC and Afghanistan. In terms of the number of acquisitions, Iraqi investors are decisively ahead. The first three preferred cities are Mugla, Istanbul and Antalya. But in the top 10 preferred provinces, change is at stake. We see that Ankara Real Estate And Houses and Bilecik are in the list and Adana and Samsun are replaced.”
Turkey offers these opportunities. Turkish real estate residence permit and citizenship “the sector is attractive to foreign investors because of these opportunities.” he said.
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