“Shared Products will Increase in Real Estate and Digital Marketing will Determine the Course of Competition”

Indicating that the 50.7% increase in real estate sales to foreigners in August compared to the same month of the previous year symbolizes the confidence of oreign investors in Turkey, Ege Yapı Chairman of

the Board İnanç Kabadayı noted that he is hopeful about the last quarter sales of the sector. Referring to the trends in the sector, Kabadayı said, “Digital marketing powered by innovative financial solutions will determine the course of competition. We are in the period of developing products suitable for the sharing economy. Consolidations will increase.” According to TUIK August data, house sales to foreignersincreased by 50.7% compared to the same month of the previous year and amounted to 5 thousand 866, while in the period between January-August, it increased by 47.6% compared to the same period of the previous year and

amounted to 30 thousand 849. Evaluating the data and the expected trends in the sector in the upcoming period for Explore Turkish Realty, Ege Yapı Chairman of the Board İnanç Kabadayı said, “Even though the relatively high interest rates and the pandemic still negatively affect the economic activities compared to the previous year, with total sales figure of 801 thousand 995 units in the first 8 months, we see that the serious demand for estates in Turkey continues. When the supply of new projects increases and a decrease in interest rates happens, the sales figures will also reach higher

levels.” Stating that the 50.7% increase in the sales made to foreigners in August compared to the same month of the previous year symbolizes the confidence of foreign investors in Turkey, Kabadayı noted that if there is no radical issue with flights, the sector can wrap this year with a foreign sales figure of 50 thousand. 

Foreigners with high income are interested in the city center 

Reminding that the citizens of Iraq, Iran and the Russian Federation are the first 3 countries to purchase estates from Turkey, Kabadayı said, “Citizens of Afghanistan, Kazakhstan and Germany also have a considerable share in purchasing estates from Turkey. Foreigners who buy estates with the budget of 250 thousand dollars, which isthe minimum investment limit required to obtain Turkish citizenship, can find projects that are suitable for their budget mostly in locations far from city centers. The other group consists of those who have high income and prefer projects located in city centers for investment. As Ege Yapı, our projects are always located in central locations, so foreigners with a high income and education levels usually visit our sales offices.”