TURKEY EXPECTES EXPLOSION OF REAL ESTATE DEMAND AFTER LOCKDOWN

According to experts' forecasts, at the end of the three-week lockdown and after the restrictions are lifted, Turkey will see a flow of foreign investors. "The deferred demand will start to attack", - writes the portal Emlakkulisi, referring to the opinion of market players.
According to Omer Faruk Akbal, President of the Association for Assistance to Buyers of Overseas Real Estate (GİGDER), Turkey is considered by many to be a paradise: both European retirees and expatriates. So in the very near future, we should expect a sharp increase in the number of transactions for the purchase of housing.

This is confirmed by the fact that in Turkey for the 2020th "pandemic" year, the volume of sales of residential real estate increased by 9%. Despite the fact that in Europe - in countries such as Italy, France, England and Spain - there was a sharp decline in the number of transactions: the fall was from 10% to 25%. Therefore, there is reason to expect sales to rise immediately after the end of the 17-day lockdown, which partially coincided this year with the month of Ramadan, during which activity in the country usually subsides.
Experts argue that the increase in the foreign exchange rate against the Turkish lira, coupled with the guaranteed and almost instantaneous acquisition of citizenship for purchases in the amount of 250,000 euros, further enhances the interest of European investors. It is already known that of the transactions in the first months of this year, every fourth purchase was associated precisely with the prospect of obtaining a residence permit and subsequently citizenship.