The Chinese more often buy property in Turkey

The Chinese more often buy property in Turkey

Within the first six months in 2020, the percentage of Chinese among foreign homebuyers in Turkey increased significantly. If earlier (in the last three years) Chinese residents hadn't even reached the top twenty foreign buyers of Turkish housing, while this year they were (the first half of the year) in the eighth place. The Turkish real estate and construction newspaper Emlak Kuisi reports that, despite the coronavirus pandemic, the Chinese bought 415 housing objects in Turkey in 6 months of 2020. For the first time, Chinese buyers appeared on the real estate market in Turkey in 2015 (271 objects), in 2016, Chinese citizens bought a little more - 281 housing objects. 

During the period between January and June 2020, the Chinese bought 415 properties in Turkey, while the borders were closed and flights were cancelled due to the pandemic. In June, Chinese property buyers took the third place. The majority of Chinese buyers choose apartments in Istanbul.

Irfan Karsli, the chairman of the Turkish and Chinese Culture Association and correspondent of the Anadolu Agency: “The Chinese have been investing in overseas property for many years, especially in United States. Recently, the number of Chinese investments in Greece have increased, however, the Chinese began to consider Turkey (and Europe) as an investment attractive region with the start of the New Silk Road project - a trade route from Beijing to London through Turkey (along the historic Silk Road route). Over the past decade, we have seen an increase in China's interest in Turkey. Last year, the number of tourists from China reached almost 0.5 million. For China, Turkey has become a well-known European country. Of course, this reputation also influences the increase in the number of investments in our economy."

Another significant factor that attracts the Chinese is property prices. Money for which you can buy a luxury apartment in Turkey will be enough in China only for a small room.

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