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Turkey's Property Sector Continues to Attract Foreign Investors

06-22-2020 03:36 PM CET | Industry, Real Estate & Construction

Press release from: HF Corporation

turkey Property Report by HF Corporation

turkey Property Report by HF Corporation

Lahore/Istanbul - HF Corporation has released the third edition of its research-based report on residential property sales to foreigners in Turkey. The report, which uses data from the Turkish statistical institute, reveals that foreigners bought 10,948 houses in Turkey during the first quarter of 2020, thereby marking an increase of 14% compared to the same period of the previous year. The report is accessible via the below mentioned link:

This interesting and unique report presents the statistical analysis of the top foreign buyers in nine (9) different languages - English, Persian, Arabic, Russian, German, Azerbaijani, Chinese, Swedish, and Urdu. According to the statistics, some of the top foreign buyers of Turkish residential properties during this period originated from the following counties:

Iraq (1,864); Iran (1,856); Russia (763); Afghanistan (644); Yemen (386); Jordan (334); Germany (328): China (251).

Investors from Saudi Arabia, Azerbaijan, the UK, Sweden, and Pakistan were also among the top-20 nationalities buying houses in Turkey. The most remarkable year-on-year increase was in the case of Chinese (332%), Pakistani (130%), and Iranian (97%) nationals.

Highest number of houses during this period were sold in Istanbul (5,375 houses), Antalya (2,151 houses), Ankara (665 houses), Bursa (371 houses), and Yalova (339 houses).

"Turkey, because of its natural beauty, history, and strategic location, is an attractive place for owning a property. The reforms in the Land Registry Law in May 2012 have made the acquisition of real estate in Turkey convenient for citizens of a large number of countries within the scope of legal restrictions. The launch and subsequent restructuring of the citizenship-by-investment program by Turkey are further fueling the interest of Middle Eastern and Asian investors in Turkey's real estate sector," commented Dr. Hussain Farooq, President and chief citizenship specialist at HF Corporation, a firm that advises its discerning clientele on the global citizenship-by-investment programs in addition to publishing some of the most comprehensive reports in the citizenship industry.

"In the first quarter of 2020, when the G-20 area experienced the largest real GDP contraction since the time series started, Turkey was one of the only two G-20 countries recording positive growth. Foreigners' appetite for Turkey's residential property market also remained strong during this period. While Q2 is somewhat slow in terms of foreign investment - owing to lockdown, and global travel restrictions - we are experiencing increased demand in inquiries that makes us expect a strong 3 and Q4," concluded Dr. Farooq.

HF Corporation
Suite 3, Level 1, Cantt. Board Plaza, Tufail Road, Lahore, Pakistan, 54000.

HF Corporation is a citizenship- and investment-advisory firm that advises high net-worth individuals on the acquisition of second citizenship and residence in different countries, including Turkey. The firm also has a government advisory department that offers assistance to different governments to help them in building strategies for increasing foreign direct investment in their countries.

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