In the first quarter of 2019, 9.618 foreign nationals bought house from Turkey and paid an average of 135.000 USD per house
In the first quarter of 2019, housing sales to foreigners amounted to 1.3 billion dollars. Real estate sold for an average of 148.000 USD last year, was sold for an average of 135.000 USD in the first quarter of 2019. With the increase in the market, this figure may reach to 150,000 USD per house.
Far below the amount required for Turkish Citizenship
In order to apply for citizenship in Turkey, foreigners have to make 250.000 USD real estate investment. However, average sales figures are still far below this amount.
High rise in the first quarter
According to data released by TUIK, in the first quarter of the year there was an increase of %81.5 in the sale of housing to the foreigners compared to the same period of 2018. In the first 3 months of 2019, a total of 9.618 houses were sold to foreigners. This figure was 5.298 units in the same period last year.
50 thousand houses is expected to be sold
40 thousand units were sold to foreigners last year. 50 thousand houses is expected to be sold to foreigners throughout the year, and the average sales figure is expected to be 150.000 USD in 2019. So in 2019 the income from residential sales to foreigners in Turkey is expected to be 7.5 billion USD.