Travel restrictions due to the coronavirus pandemic have forced many potential foreign real estate investors to consider Turkey as an investment destination: the country is easy to access and stable in terms of control over the coronavirus. Emel Akbash Idikut, the founder of the investment company ProjEkspert Gayrimenkul, told this to reporters.
Emel Akbash Idikut:"Sales of Turkish housing to foreigners from January to August 2020 decreased by 24.7 percent and amounted to 20,896 real estate objects in Turkey. However, sales results in August 2020 showed a considerable growth, up 8 percent comparing with August 2019. In total, 3,893 foreigners bought apartments in Turkey in August this year. Most housing was bought in August by nationals of Iran (640 objects), Iraq (592 objects), Russia (366 objects), Afghanistan (156 objects), Azerbaijan (154 objects). Now buyers of real estate in Turkey are most often looking for housing in the price range from 400,000 to 800,000 TL. However, the choice of options within this range has become limited recently - the costs of building new projects are growing and as a result the prices of houses and apartments in Turkey are growing too. Another current trend dictated by the pandemic is that property buyers today are more likely to buy secondary housing. This is because there is a shortage of new housing available for sale (at the stage of commissioning), and the projects under construction are of much less interest to investors."