Endeksa Co-Founder and General Manager Görkem Öğüt, emphasizing that the cost of buying a house for citizenship has been reduced from 1 million to 250 thousand in 2018 , “We see that a regulation has been made depending on the increase in housing prices, which has become the agenda of Turkey. When we look at the housing sales figures to foreigners in order to understand this effect, the total sales, which was 12 thousand 181 in 2013, increased to 22 thousand 234 in 2017. If we do not count the decline in 2016, the sales continued with a certain upward trend before the change of 250 thousand dollars. When we look at 2018 and beyond, when the law was changed, there were 39 thousand 663 sales in 2018, and 45 thousand 483 sales in 2019. The figure that fell to the band of 40 thousand in 2020 with the effect of the panda broke a record in 2021 and reached 58 thousand 576. We will see the effect of this regulation together.” said.

In 2021, 1 million 492 thousand houses were sold across Turkey

Adding his words that according to TURKSTAT statistics, the sales of residences to foreigners in Turkey in 2021 were 58 thousand 576, Öğüt said, “The number of residences purchased by foreigners as of 2021 increased by 43.5 percent compared to the previous year. There seems to be an increasing trend, but last year, the share of house sales to foreigners in total house sales was 3.9%.

There has been a serious increase in housing prices in the last 1 year. According to Endeksa data, housing prices have increased by 127% in the last 1 year and by 206% in the last 2 years across Turkey. One of the important reasons for this increase is the increase in construction costs. According to the current data of TURKSTAT, the building construction cost index increased by 87.91% compared to the same month of the previous year. In addition, the material index increased by 110.44% and the labor index by 41.29% compared to the same month of the previous year. </ span>

The provinces with the highest number of house sales to foreigners are Istanbul, Antalya and Ankara

The provinces with the highest number of housing sales to foreigners are, respectively, Istanbul, Antalya and Ankara. When we evaluate the current sales data of TURKSTAT for February 2022, the share of house sales to foreigners in general sales is 10% in Istanbul, 23% in Ankara, 3% we see that.” said.