Top Nationalities Purchasing Real Estate in Turkey 2023

Top Nationalities Purchasing Real Estate in Turkey 2023 -

 

Index of Sections

1. Nationalities Leading Property Purchases in Turkey in 2023
2. Number of Properties Owned by Different Nationalities in Turkey in 2023
3. Cities in Turkey Where Foreigners Own More Properties Than Others
4. Key Strengths of the Real Estate Sector in Turkey
5. How Did the Turkish Market Attract Foreigners?
6. Motivations for Property Ownership in Turkey

 

Nationalities Leading Property Purchases in Turkey in 2023:

 

When analyzing the real estate market in Turkey, a noteworthy and interesting trend emerges as various Arab and international nationalities show a preference for investing in this diverse and developing sector. Turkey has become a top destination for foreign investors seeking property ownership, thanks to a unique combination of factors that make it an appealing investment hub.

Several nationalities lead the list of real estate investors in Turkey, with notable interest from Arab citizens, particularly Iraqis and Iranians, alongside investors from various European and Arab countries. This growing interest can be attributed to a combination of economic and strategic factors.

 

Nationalities Leading Property Purchases in Turkey in 2023:

1. Russians:

Russian citizenship remains at the forefront of the list of foreign nationalities showing the highest interest in real estate investments in Turkey. The preference of Russian citizens for property ownership in Turkey is influenced by factors such as properties overlooking the Mediterranean Sea in Antalya and the warm climate of the Mediterranean region. In 2022, Russians secured the top spot as the foreign nationality purchasing residential apartments in Turkey, acquiring a total of 16,312 units.

 

2. Iranians:

Iranian citizenship claimed the second position, following Russian citizenship, in the ranking of foreign nationalities most purchasing properties in Turkey.. Iranians bought 8,223 residential apartments in 2022.

 

3. Iraqis:

Data from official platforms in Turkey reveal a significant interest from Iraqi investors in real estate investment. Iraqis secured the top position among Arab nationals and claimed the third spot overall in the list of foreign nationalities leading property purchases in Turkey. They purchased 6,241 residential apartments.

 

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In a previous article, we discussed Iraqi-Turkish relations. Click here to read the article...

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4. Germans:

German citizenship held the fourth position in the list of foreign nationalities with the highest property ownership in Turkey. The number of properties sold to German citizens in Turkey reached 2,705 units across Turkish provinces. It is noteworthy that many German entrepreneurs are keen on owning properties in Istanbul and Antalya primarily.

 

5. Kazakhs:

- The fifth position in the ranking of foreign nationalities in property ownership in Turkey went to Kazakh citizenship. The number of properties sold to Kazakh citizens reached 2,702 units across all Turkish provinces during 2022.

 

6. Ukrainians:

Ukrainian citizenship secured the sixth position in the ranking of foreign nationalities with the largest share of Turkish properties. The number of property sales to Ukrainians across various Turkish provinces in 2022 approached 2,574 units.

 

7. Afghans:

Afghan citizenship held the seventh position in the ranking of foreign nationalities with the highest property purchases in Turkey in 2022. The number of property sales to Afghans reached 1,732 units across all Turkish provinces.

 

8. Kuwaitis:

In recent years, Kuwaiti citizens have shown significant interest in real estate investment in Turkey, securing a prominent position in the ranking of foreign property sales in the country.

Kuwait holds the eighth position among foreign nationalities and the second position among Arab nationalities with the highest property purchases in Turkey in 2022.

 

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In a previous article, we discussed Kuwaitis-Turkish relations. Click here to read the article...

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10. Jordanians:

Turkish properties represent a significant attraction for Jordanian citizenship. This is due to the political, intellectual, cultural, and linguistic closeness between Turkey and Jordan. As a result of this affinity between the two countries, Azerbaijanis were ranked ninth in the list of foreign nationalities with the highest property purchases in Turkey. The number of properties sold to Azerbaijanis reached approximately 1,330 residential apartments across various Turkish provinces in 2022.

 

10. Americans:

Statistics confirm that Americans ranked tenth among foreign nationalities with the highest property ownership in Turkey during the past year, 2022. The number of property sales to Americans in Turkey reached approximately 1,329 units. All agree that Turkey offers unique investment opportunities and a promising future for real estate.

 

The real estate ownership by different nationalities in Turkey in 2023.

 

 

 

 Properties for sale in Istanbul

 

 

Cities in Turkey that property owners prefer more than others.

 

 

The real estate market in Turkey has revealed specific areas that are highly popular among foreign investors looking to buy properties in the country. In recent years, several regions have competed for the top spot, but Istanbul has consistently maintained its position as the leading choice for foreigners investing in Turkish real estate.

1.Istanbul:

Istanbul stands out as the most attractive city for foreigners, drawing over 95,000 investors.
- Investments are concentrated in modern districts such as Basaksehir and Beylikduzu.
- Istanbul is considered a vibrant economic and tourist hub.

 

 Properties for sale in Istanbul

 

2. Antalya:

- Real estate companies have sold more than 78,000 properties in this enchanting city.

- Antalya is considered the tourism capital of Turkey, primarily attracting Russians and Germans.

 

3. Mugla:

- Climbing in the rankings, it secured the third position with 19,406 investors.

- It has become a sought-after city due to its attractive beaches and upscale services.

 

4. Aydin:

- Entered the competition strongly and claimed the fourth position with 17,583 investors.

 

5. Bursa:

- Ranked fifth with the purchase of 15,172 properties.

- Benefited from its strategic location and year-round tourist appeal.

The top six positions for other Turkish cities varied, with Ankara, Yalova, Mersin, Izmir, and Sakarya ranking from sixth to tenth, .

Damas Group offers diverse real estate options in Istanbul, an ideal area for investment due to its diversity and guaranteed profit opportunities.

At Damas Group Real Estate, we have a plethora of options tailored to the requirements for obtaining real estate residency. We put all opportunities within your reach to help you achieve your goals, leveraging our exceptional team and a select group of lawyers with the highest levels of experience and competence.

 

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The key strengths of the real estate sector in Turkey

 

 

 

1. Advanced Infrastructure:

The provision of robust and advanced infrastructure, exemplified by projects like Istanbul's third airport and the Istanbul Canal, enhances the appeal of properties in Turkey for investors.

2. Investment and Banking Legislation:

Good investment and banking laws in Turkey support real estate investment and make financial transactions easier.

3. Government Support for Foreign Investors:

- Continuous government support for foreign investors through encouraging policies and procedural facilitations.

4. High Population Count:

- Turkey's population exceeding 82 million enhances demand for residential and investment properties.

5. Tourist Attraction:

Turkey's status as a top tourist destination boosts the real estate sector, especially through property rentals for tourists.

6. Urban Renewal:

Urban renewal projects on government agendas create investment opportunities in modern real estate projects..

7. Strategic Location:

Turkey's strategic location as a bridge between Europe and Asia strengthens its role as an economic and commercial hub.

8. Population Growth and Housing Demand:

Growing population boosts demand for housing, raising property prices.

 

How Does the Turkish Market Attract Foreigners?

 

Turkey is a top choice for foreign real estate investment, and recent data reveals the nationalities making the most property purchases in the first half of 2022. But how does the Turkish market effectively attract foreign investors?

1. Diverse Options:

- The Turkish market offers investors numerous options regardless of capital size.

Properties are available to suit various budgets, ranging from luxurious to more modest capital.

 

2. Installment Offers:

Many properties provide installment options, helping buyers pay in multiple installments.

- This eases financial pressure and makes real estate investment more feasible.

 

3. Under-Construction Properties:

- Many investors choose to buy properties still under construction.

Buyers can control the quality of finishes and materials used, enhancing the investment experience.

 

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4. Profit Expectations:

Purchasing properties under construction holds significant investment value as their prices are generally lower than ready-to-move-in properties.
Upon completion of construction, the property's value automatically increases, allowing the owner to achieve excellent profits when selling.

 

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In general, the Turkish market offers investors a variety of opportunities and control over their investments, attracting more foreign investors.

 

What motivates property ownership in Turkey?

 

 

Robust Economy:

- Turkey's economy holds a leading position globally, enhancing real estate investment opportunities.

 

Property Residency:

- After purchasing property, obtaining property residency is easy, providing opportunities for permanent or seasonal residency.

 

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You can learn more about property residency in Turkey by clicking on the following link. [Click here].

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3. Turkish Citizenship:

- Purchasing properties provides an opportunity to obtain Turkish citizenship with its various advantages.

 

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4. Affordable Property Prices:

Property prices in Turkey are affordable compared to many other countries, offering opportunities for investors.

 

5. Price Increase Expectations:

Property prices in Turkey are expected to rise due to increased demand, enhancing investment return potential.

 

6. Stable Environment:

- Turkey enjoys a safe and stable environment, making it an attractive place for living and stability.

 

7. Tourist Attractions:

Turkey is among the top global tourist destinations, making it attractive for real estate investment.

 

8. Advanced Infrastructure:

Turkey has modern infrastructure, including airports, transportation, schools, and medical facilities.

 

9. Continuous Development:

Turkey's real estate sector is continually evolving with new projects and advanced urban transformations.

 

10. Simple Procedures:

- Requirements for owning property in Turkey are minimal, and transactions can be completed in a short time.

 

11. Foreign Investor Protection:

The Turkish government protects foreign investors by encouraging the use of property appraisal documents to prevent price manipulation.

 

12. Low Taxes:

Taxes in Turkey are not a significant obstacle, contributing to making real estate investment more attractive.

 

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In short, Turkey offers diverse opportunities and attractive conditions for real estate investment, making it a beloved destination for property investors.

At Damas Group Real Estate, we leverage our extensive experience in the real estate world, taking full responsibility to assist you in presenting your file legally and accurately. This ensures that you avoid any mistakes that could lead to the rejection of your application for property residency.

 

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Related Articles:

- Real Estate Residency in Turkey, click here...

- Studio Apartments: Features and drawbacks, click here...

- Real Estate Residency for Arab Communities, click here...

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Keys to finding related properties:

- Apartments for sale in Istanbul

- Government-guaranteed properties

- Properties with special installment plans

- Villas for sale in Istanbul

- Properties for sale in Başakşehir

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We, at Damas Group Real Estate, bring you the best property options for sale in Ankara, Turkey in 2023. We're here to help you seize the best investment opportunities in major construction projects and residential complexes at competitive prices.

Our services include providing all kinds of legal and real estate consultations, obtaining property deeds, and assisting you in acquiring Turkish property residency and citizenship, along with other post-sale services.

Feel free to reach out to us to learn more!

 

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