President of the Association for the Promotion of Foreign Real Estate (GIGDER) Faruk Akbal, assessing the situation with the sale of residential real estate to foreigners after the elections, said that sales have already intensified. GIGDER expects the implementation of "deferred demand" - namely, the receipt of $1.5 billion to Turkey as a result of these transactions. And in the coming weeks.
The period of uncertainty associated with the presidential elections has ended, Emlakkulisi writes, referring to the opinion of Mr. Akbal. The specialist suggested that all the "losses" in the volume of transactions recorded in the first four months of the year will be compensated.
As previously reported by the Turkish Statistical Institute TÜIK, housing sales to foreigners from January to April 2023 decreased by 35.1% and amounted to 13,483 residential units. And this segment, market players believe, will also "increase momentum."
Faruk Akbal noted that the "premium" housing potential of cities such as Istanbul, Izmir, Ankara and Bursa (by the way, this is the fifth settlement in terms of housing transactions in the country), which in fact is higher than even Paris, London and Berlin, contributes to the growth of interest in the residential real estate segment of Turkey.
Experts also predict an increase in the cost of apartments and houses.