Turkiye Is Top Ranked In Real Estate Sales To ForeignersFri, Dec 16, 2022 12:00 AM
Türkiye is one of the most invested countries by foreigners with cities like İstanbul and Ankara which are most preferred cities of the foreign investors. It was recorded that in the first quarter of the 2022, almost 5 percent of the real estates were bought by foreign investors. Furthermore, between January and September it was estimated that 86 percent of the 5.6 billion dollars of income was due to real estate sales. Spain with a total of 1.6 billion dollars of investment mainly in April and May became the country that made the most investment in Türkiye.
Direct foreign investments
While in the first nine months of 2022 direct foreign investment inflow was estimated to be 9.3 billion dollars, the direct foreign investment outflow was recorded to be 3.7 billion dollars. Furthermore, the net inflow was about the same with last years numbers with 5.6 billion dollars.
Direct foreign investments between January and September of 2022 in Türkiye was in decline with the exception of the inflow of 1.9 billion dollars in May. Comparing the data from the corresponding month in 2021 it was recorded that direct foreign investment inflows and outflows fell by 500 million dollars while net direct foreign inflow rose by 17 million dollars. Real estates provided the 86 percent of the net cash inflow.
Net inflow from real estates rose by 21 percent
It can be seen that between January and September of 2022 the net cash inflow from real estate sales rose by 21.3 percent to 4.79 billion dollars from 3.95 billion dollars in comparison to the corresponding months in 2021. Meanwhile contribution of real estate sales to the net inflow rose to 86 percent from 71 compared to the last year. In other words, without the 4.8 billion dollars of real estate sales, direct foreign investments declined by 787 million dollars.
Spain is in the lead
The service industry is the key sector in direct foreign investments but it was recorded that financial, insurance and commerce composed more than half of the investments. Spain came first in the investments done in Türkiye with a 1.6 billion dollars and Holland followed it with more than 40 percent contribution.