The real estate sector had decided to join forces following the failed coup attempt. Emlak Konut GYO and the Association of Real Estate and Real Estate Investment Partnerships (GYODER) organized a campaign for 60 thousand residential properties and offices. The deposit was reduced to 20 percent and interest rates to 0.7 percent while the term of the installments was increased to 120 months, for 1 month. Sales offices have filled up thanks to the campaign, which is to continue until the end of August. Now, the second step of the decision to join forces is being put into practice – an overseas tour. Companies will be taking part in overseas real estate exhibitions and explaining the advantages of investing in Turkey to foreign investors together.
Preparations for 3 real estate exhibitions
Aziz Torun, the Chairman of GYODER, who said that the real estate sector is a sector which produces, pays taxes, provides employment to 2 million people and feeds 200 sub-sectors, and therefore touches millions of people, stated that the real estate sector was of strategic importance for a Turkey which is growing and developing and having targets for the year 2023. Torun stated that they had developed projects for the presentation of Turkey overseas too, alongside the domestic campaign, and said,
As GYODER, we will be participating in activities to strengthen the perception of Turkey overseas, together with NGOs, such as TIM, DEIK, TUSIAD and MUSIAD, which have come together under the leadership of the Ministry for the Economy. Together with this, we will also be working on something specific only for real estate. As GYODER, we are taking part in 3 separate exhibitions overseas, in 3 months. We will be at the Cityscape exhibitions in Dubai in September, Kuwait in October and Jeddah in November.
Going to Europe
Murat Kurum, the Managing Director of Emlak Konut, said that they had taken part in MIPIM – the international real estate exhibition in France – and Cityscape in Dubai, every year, but that they would be taking part in these stronger than ever this year. Kurum stated that the overseas tours to be carried out by Emlak Konut GYO would not just be limited to the Gulf states, and said, “We will be going on a ‘roadshow’ in London, America, Frankfurt and Paris in September. The future of both our companies and our country will be better than today, and we will explain this to foreign investors. We have got the burden off our backs and will be running even faster from now on.”
Panels will be held
Aziz Torun said that they would be taking part in active lobbying in order to break the negative perception abroad. Aziz Torun, who stated that construction companies would be renting 400-500 square meter stands at the exhibitions in Dubai, Kuwait and Jeddah, said, “We will go to the exhibitions prepared. There will be Arabic interpreters and lawyers. We will explain how to invest in Turkey to foreign nationals through panels and one-on-one discussions.”
Citizenship is being awaited
Representatives of the sector, who stated that close to 23 thousand residential properties had been sold to foreign nationals throughout the country and 4.5-5 billion dollars of revenue had been obtained last year, are saying that it is now possible to surpass 10 billion dollars. The representatives of the sector, who stated that real estate funds, which are a new financing model in the sector, are an important step to attract foreign investors, said, “Residential properties need to be produced in line with the demands and expectations of foreign nationals. If support is also given from the public sector, then property sales to foreigners will increase. Foreigners who have bought properties are unable to obtain residency permits for months due to bureaucracy. The system needs to be simpler and work faster. In addition to this, issuing long-term residency and citizenship to those who purchase homes above a certain price is also very important.