Upcoming record sales in the Turkish real estate sector
Expectations of record sales of nearly 15 thousand apartments in the first 3 months following the complete closure in Turkey.
Upcoming record sales in the Turkish real estate sector
The Turkish real estate sector witnessed great activity, as indicated by the figures recorded by real estate sales in Turkey in the first quarter of 2021.
Real estate sales in Turkey achieved record numbers in the first months of this year, with a noticeable increase over sales figures in the first months of last year 2020.
Table Of Contents
- Previous recession
- Resilience has its factors
- Readiness for a standard real estate season
- The increase in real estate demand at the time of the lockdown
- Tourist season in mind
- A key role for digital activity
- Foreign investors are the biggest beneficiaries
- The decrease in the number of patients will have a role
- Arab and Islamic countries at the fore
This, and the period preceding the spread of the Coronavirus pandemic witnessed some stagnation in real estate sales in Turkey, especially in the second quarter of last year.
One of the reasons for that recession was a complete closure in Turkey, as a precaution against the spread of the virus that spread terror around the world at that time.
Resilience has its factors
It is worth noting that the real estate sector in Turkey was distinguished by its historical resilience to the recession imposed by the precautionary measures against the Coronavirus.
This resilience is due to several factors, most notably:
- Activating the role of electronic activity in the internal and external display and sale operations.
- Facilitating property registration transactions through the title deed web system.
Readiness for a standard real estate season
Experts and those interested in Turkish real estate, say that the real estate sector in Turkey is witnessing a great activity at the level of demand.
This turnout coincided with the complete closure period imposed by the Turkish government as a precaution against the spread of the Corona epidemic, and extending between April 29, 2021, and May 17, 2021.
This is also a high turnout according to the experts that there’s a promise of record sales in the period after the total closure, especially since this time of year marks a season of significant movement in the real estate sector.
The increase in real estate demand at the time of the lockdown
In a statement to the Turkish newspaper Emlak Haberi, Mr. Hajan Bocak, director of one of the largest Turkish real estate companies, confirmed that the period of complete closure is witnessing a great demand promising record-breaking sales!
He said in his statement: "The real estate sector is promising record sales after the close is over, indicated by the great demand that it is witnessing during it”.
Tourist season in mind
Bocak added, "The period following the closure is one of the most important seasons of activity in this sector, as it corresponds to a great activity in many sectors, the most important of which is the tourism sector".
According to Bocak: The main players in the real estate and construction market are aware of it, and on the basis of which they prepare their numbers to meet the requirements of the high demand resulting from this activity.
He also said, "It is expected that sales in the apartment sector in Turkey, during the three months following the closure, will reach record sales ranging from 12,000 to 15,000 apartments!"
A key role for digital activity
Mr. Bocak explained that the digital activity witnessed by the real estate sector after the spread of the pandemic had a major role in the recovery of real estate sales in Turkey.
As he stated in his statement: "After the travel restrictions imposed in the first months of the spread of the epidemic, the real estate sector has resorted to digital solutions to continue its activities”.
He continued: "The sector has provided digital real estate tours with an alternative to reality tours, which have been prevented by travel and movement restrictions".
He added, "The customer can take a tour to choose the right property without having to leave his home or country".
According to Mr. Bocak, digital solutions have met with great demand for the comfort and safety they provide for the real estate investor wishing to invest in real estate from inside or outside Turkey.
Foreign investors are the biggest beneficiaries
Bocak also said: It has become possible, thanks to these digital solutions, to conduct transactions on the title deed.
In addition, it has become possible for the foreign investor to conduct purchase transactions and Turkish citizenship transactions remotely without incurring the trouble of traveling.
As Bojak said, "A large part of previous transactions have been completed during the past period, as some investors obtained a Turkish passport while they were in their countries!"
The decrease in the number of patients will have a role
In another aspect of his statement, Bocak stressed that the coming months will witness a great demand by foreign investors on the real estate sector in general, and the residential apartments sector in particular.
He also indicated: The complete closure will contribute to a decrease in the number of patients, which will lead to more movement and lift the restrictions that will positively affect sales of real estate in Turkey to foreigners.
As Mr. Bocak said: "The decrease in the number of injuries, which is expected to be witnessed as a result of the total closure, will result in the lifting of travel restrictions between countries, and this will positively affect the interest of foreign investors".
Arab and Islamic countries at the fore
Bocak also, continued his speech with the expectation: that the Turkish real estate sector will be most popular with investors from Arab and Islamic countries such as Lebanon, Saudi Arabia, and Pakistan.
He concluded, saying: "We will witness a significant turnout by investors who want to obtain high-quality health services provided by Turkey, which are the ones that shone during the outbreak of the Coronavirus epidemic".
Edited by Imtilak Real Estate©
Reference: Emlak Haberi
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