September 2024: Foreign Interest in Turkish Real Estate Reaches New Heights

In September 2024, Turkey recorded a notable increase in property sales to foreign buyers, with 6,630 properties sold, marking a significant 25.8% increase compared to the same period last year. Foreign investors continue to see Turkey as an attractive destination for real estate investment, driven by the country’s strategic location, dynamic economy, and competitive property prices.

This month, Istanbul led the way with 2,995 properties sold to foreign buyers, followed by Antalya with 1,358 and Ankara with 408. The popularity of these cities reflects their appeal for international buyers, whether they are looking for investment opportunities, vacation homes, or a new place to call home.

Why Foreigners Choose Turkey for Real Estate Investment

Turkey’s appeal to international buyers lies in its unique blend of culture, lifestyle, and economic opportunities. The Turkish real estate market offers diverse options, from luxury apartments in bustling Istanbul to serene villas on the Mediterranean coast. Additionally, the country’s affordable property prices compared to other global markets make it a top choice for investors seeking both lifestyle benefits and strong returns.

Yusuf Boz, a renowned real estate expert, shares his thoughts on the trend:

“Turkey has become a hotspot for international real estate buyers, offering a lifestyle that is unmatched by many other markets. With its strategic location between Europe and Asia, Turkey provides a gateway for investors looking to diversify their portfolios. The recent increase in property sales to foreigners demonstrates the growing confidence in Turkey’s market stability and long-term potential.”

Key Insights from September 2024 Sales Data

The September sales data highlights several key trends:

• Strong Demand in Major Cities: Istanbul remains the most popular destination for foreign buyers, with nearly 3,000 properties sold. As Turkey’s economic and cultural hub, Istanbul offers endless opportunities for business and leisure, making it a prime location for investment. Antalya, known for its beautiful coastlines, continues to attract those seeking a Mediterranean lifestyle, while Ankara draws attention with its strategic position as the capital.

• Top Buyers by Nationality: The majority of purchases in September were made by Iranian nationals, who bought 1,323 properties. They were followed by Iraqi citizens with 990 purchases, and Russian buyers with 540. This trend reflects the geopolitical and economic factors driving these groups to seek stable and promising investments outside their home countries.

Yusuf Boz comments on these trends:

“The interest from Iranian, Iraqi, and Russian investors is not surprising. Many are looking for a safe haven for their investments, and Turkey provides that stability. Istanbul’s appeal, combined with Antalya’s natural beauty, offers these investors a balance of urban convenience and coastal charm. It’s no wonder that Turkey continues to be a top choice for those seeking a secure investment environment.”

Spotlight on Bizim Evler 11: A Prime Investment Opportunity

For those considering a real estate investment in Turkey, Bizim Evler 11 stands out as a premier choice. Located in a vibrant area, this project offers a blend of luxury, comfort, and modern living that caters to both investors and those looking to settle in Turkey.

Bizim Evler 11 features spacious apartments with high-end finishes, offering residents access to social amenities such as landscaped gardens, sports facilities, and easy access to transportation. The project’s strategic location ensures high rental demand, making it an ideal choice for those looking to generate steady rental income.

Yusuf Boz emphasizes the advantages of investing in Bizim Evler 11:

“Bizim Evler 11 is more than just a residential project; it represents the future of urban living in Turkey. For foreign investors, it’s a secure investment that offers both comfort and high potential for appreciation. The project’s location near major highways and its proximity to Istanbul’s vibrant social scene make it an attractive option for those seeking both lifestyle and financial returns.”

Why Invest in Turkey Now?

Turkey’s real estate market offers unique advantages for international buyers, making now an ideal time to invest. The combination of competitive property prices, a favorable exchange rate, and Turkey’s growing appeal as a lifestyle destination makes it an attractive option for those seeking long-term investment opportunities.

Some key reasons to consider investing in Turkey include:

• High Rental Yields: With the growing demand for rental properties in cities like Istanbul, investors can benefit from steady rental income. The strong rental market ensures that properties like those in Bizim Evler 11 remain in demand year-round.

• Capital Appreciation Potential: Turkey’s ongoing infrastructure projects and urban development make it a promising market for capital appreciation. As cities expand and new projects emerge, property values are expected to rise over time.

• Citizenship by Investment: Turkey’s citizenship-by-investment program allows investors to obtain Turkish citizenship by purchasing property worth at least $400,000. This program has been a key factor in attracting international buyers, as it provides a pathway to visa-free travel to over 110 countries and the benefits of a Turkish passport.

Yusuf Boz highlights the importance of timing in real estate investment:

“Investing in Turkey now offers a unique window of opportunity. The favorable conditions, coupled with the country’s growth potential, make it an excellent choice for those looking to diversify their investment portfolio. Projects like Bizim Evler 11 provide the security and growth potential that investors are looking for in today’s market.”

Final Thoughts

The increase in property sales to foreigners in September 2024 is a testament to Turkey’s enduring appeal as a top investment destination. As international buyers continue to recognize the value of Turkey’s real estate market, opportunities like Bizim Evler 11 offer a chance to secure a valuable stake in a market with immense potential.

For investors looking to capitalize on Turkey’s real estate market, the time to act is now. With a range of options and attractive investment conditions, Turkey remains a top choice for those seeking both lifestyle benefits and financial returns.

Yusuf Boz concludes:

“For anyone considering investing in Turkey, the data speaks for itself. Turkey is not just a place to buy property; it’s a gateway to new opportunities and a better quality of life. Whether you’re looking for rental income, long-term appreciation, or a new home, Turkey has what you need.”