Foreign Investor Guide
Reference: Presidency of the Republic of Turkey Investment office www.invest.gov.tr
REAL ESTATE
8 million
- Total house sales in Turkey between 2013-2018.
34,2 million
- Total house stock in Turkey in 2018.
134.000
- Total house sales to foreigners in Turkey between 2013-2018.
5,7 million m2
- Class A office supply in Istanbul in 2019.
14,5 million m2
- Active gross leasable area in shopping malls across Turkey in 2019.
4 million m2
- Total logistics real estate stock in Istanbul in 2019.
For Turkey, one of Europe's brightest future real estate markets, the discourse of "location, location, location", which is frequently used in real estate markets, is quite suitable for the country. With its strategic location at the crossroads of Europe, the Middle East and Central Asia and a population of close to 82 million, Turkey offers great opportunities for real estate developers and investors, combining a strong construction industry with its growing commercial and industrial production.
- The real estate sector has accounted for about 8.4% of GDP in the last decade. On the investment side, the total foreign direct investment (FDI) inflow was recorded as USD 13 billion in 2018, while the share of the real estate and construction sectors in this amount was USD 5.9 billion (45%).
- Urban transformation studies and mega projects, especially for Istanbul, direct the activities in the near future. Marmaray, Kanal Istanbul, Yavuz Sultan Selim Bridge, Eurasia Tunnel, 3-Storey Grand Istanbul Tunnel and Istanbul's 3rd airport are among the mega projects in the city.
- The Urban Renewal and Transformation initiative will cover 7.5 million residences. The private sector contributes greatly to this initiative, which has a budget of USD 400 billion.
- The total number of houses sold in the Turkish real estate market reached 1.4 million units in 2018. With the abolition of the reciprocity law in 2012, real estate sales to foreigners started to increase. A total of 39,663 houses were sold to foreigners in Turkey in 2018, an increase of 78.3% compared to the previous year. In house sales to foreigners, Istanbul ranked first with 14,270 sales in 2018, followed by Antalya with 7,938 sales, Bursa with 2,720 sales and Ankara with 2,133 sales.
- Class A office stock in Istanbul will exceed 5.7 million square meters by the end of 2019. In the office market, the average annual increase in gross leasable area between 2010 and 2019 was approximately 42%. Over 1.7 million square meters of office supply is under construction, and by the end of 2023, the total Class A office supply is expected to reach approximately 7.4 million square meters of gross leasable area.
- There are 433 shopping malls in operation in Turkey; The total gross leasable area in these shopping malls is 13 million square meters. The total gross leasable area of 4.8 million square meters belonging to 126 shopping centers in Istanbul corresponds to 37% of the total leasable shopping center area in Turkey.
- Despite the growth in recent years, Turkey still lags behind the European average in terms of the average leasable area per capita. This indicates that the growth potential in the retail field continues.
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https://www.invest.gov.tr/tr/sectors/sayfalar/real-estate.aspx