EUR
enWhy don't we sell housing to foreigners in Turkey?
Suleiman Cetinkaya, the founder of the Artaş Holding construction company, established in 1977, expressed his opinion about the decline in housing sales to foreigners. Artaş Holding has sold and commissioned more than 35 thousand houses to date.
"For some reason, there is an opinion in our country that housing sales to foreigners are very high. For some reason, this opinion is constantly on the agenda in some circles, despite the fact that TÜIK (Institute of Statistics of Turkey) regularly and openly provides the public with figures indicating the opposite. Let me remind you that the share of foreigners in the total volume of housing sales in our country last year decreased by half compared to the previous year and amounted to 2.9%. Consider that in 2023 alone, Dubai sold $6-7 billion worth of housing to foreigners. In America, this figure is 70-80 billion dollars. In other countries, including Europe, the percentage of foreign real estate sales is much higher than in our country. Why can't we make such sales? There is a popular point of view that says that foreigners raise housing prices. In fact, their share in total sales is so small that they cannot influence prices in any way. In addition, real estate that foreigners buy is rarely considered for purchase by Turkish citizens - it is, as a rule, a completely different market and, accordingly, different prices."
It remains to be hoped that officials will listen to the opinion of professionals and will contribute to creating conditions favorable for foreign citizens to invest in real estate in Tuzria.
