GIGDEKS VIII, which was realized with the participation of 27 GIGDER member companies, continues to rise for the fifth consecutive quarter with 184 points and is at its historical peak.
Similarly, sales to foreigners reached their highest level to date, with an average selling price of $297,174 this quarter.
While the rate of optimists, which was 33% in sales to foreigners in the previous quarter, continues to be flat, still 1/3 of the sector representatives share this opinion. On the other hand, while the "pessimists" have a partial increase, it is estimated that the general elections that will take place in May have an effect on this. From this point of view, it is possible to think that industry professionals will return to an optimistic line in the second quarter of 2023, which is the post-election period.
GIGDEKS VII, which was realized with the participation of 33 GIGDER member companies, continues to rise for the fifth consecutive quarter with 162 points and reached its highest level to date.
The sector reached its highest level to date with an average selling price of $261,613 in this quarter, surpassing the $250,000 threshold for the first time.
The rate of optimists, which was 45% in sales to foreigners in the previous quarter, decreased to 33% in this quarter. On the other hand, the pessimists and the indecisive also represent the other third of the respondents.
From this point of view, it is possible to think that the indicator of industry professionals will show optimism again in the second quarter of 2023, which is the post-election period.
GIGDEKS VI, which was held with the participation of 35 GIGDER member companies, broke the record with 152.2 points and reached its highest level ever.
On the other hand; The sector continues to increase its added value. Accordingly, the average selling price of the sector, which surpassed the 200 thousand USD threshold for the first time in the last quarter, is close to the 250 thousand $ band with 245,814 dollars.
The sector representatives, who were somewhat disappointed in the sales to foreigners in the previous quarter and who thought that there would be a decrease due to the base effect after the "earlier sales", have renewed their hopes for the last quarter of the year. Almost 1 in 2 industry representatives think that sales will increase in the next quarter, and this parameter is on the rise.
At the top of the agenda questions asked to GIGDER members this quarter is whether the Golden Visa program will increase sales to foreign investors. While 77.1% of the sector representatives think that sales will increase thanks to such a program, the rate of those who say "it will not increase" is only 5.2%.
Those who say that there are no "digital nomads" among their customers in the past quarter have a slightly higher proportion than those who do. However, the difference is not huge, and the balance may shift with specific arrangements to lure this new social class that everyone is chasing.
The Turkish economy, with its 1.8% growth performance in 2020, became the second country to grow after China among the G20 members despite the epidemic. Our country, which is expected to reach the level of 10 billion dollars
Istanbul, one of the most important cities of global trade and production with its population exceeding 20 million, stands out as one of the most important centers in fields such as finance, logistics and transportation in the world geography reshaped by the pandemic. We are getting ready for the process in which we will appear in the international real estate arena with high value-added products by increasing the brand value of Istanbul and Turkey, with all our staff.
We are developing milestones that will make us more attractive to foreign investors, milestones which we have mentioned in our Real Estate Export Strategic Action Plan that will increase the revenue of property sales to foreigners (standing at 6 billion dollars in 2020) to 20 billion dollars annually in 2025 and which include many innovative elements from education to certification, from real estate export centers to establishing a dispute resolution center. These important milestones will enable foreign investors to navigate in a more ‘corporate, fast-paced, effective and reliable’ space in Turkey.
Climate change is the biggest problem facing the post-pandemic world. Accordingly, the real estate sector is being reshaped with agenda items such as health, comfort, trust and energy efficiency. In this process in which foreign investments are directed to real estate, we, as developers, need not to remain indifferent to the change brought about by this new post-pandemic world order, and integrate flexible and rational new solutions into our projects.
The World will Meet in Turkey with “HomeTurkeyHome”
The Turkish economy, with its 1.8% growth performance in 2020, became the second country to grow after China among the G20 members despite the epidemic. Our country, which is expected to reach the level of 10 billion dollars this year by accelerating its international direct investments in sectors such as automotive, white appliances, software and logistics, with the reforms initiated in the economy and law, today distinguishes itself positively in many areas from exports to real estate, from logistics to health. These features once again emphasize the privilege of investing in Turkey, which is already popular with its qualified workforce, population and location.
Connecting the continents on an East-West axis, Turkey is now much closer to being a country where continents meet in real estate, from the Middle East to North Africa, from Europe to America. As the international reference of the real estate sector, which has a critical importance in Turkey’s growth with its share of over 50% in international direct investments, we will introduce not only our industry but also the unknown beauties of Turkey with our multi-faceted promotion campaign ‘HomeTurkeyHome’ to world investors who have not yet discovered our country.
In these days when we are making preparations for this precious meeting, we say, “Now is the time to get to know and discover Turkey together, which has grown despite the pandemic and differentiated itself from its competitors in the world with its positive data.”
We Are Ready to Host The World With Our Understanding of Urbanism
We are moving stronger under the leadership of the new reform mobilization initiated by our government in the economy and law in 2021 when a year of intense pandemic impact has been left behind and economies are expected to enter the recovery process with vaccination. Our efforts and courage to move Turkey’s place in the top 10 in the international real estate market to the top 5 are higher with the recent progress we have made.
Turkey, which brings together two continents and hosts the most important centers of the Three Sacred religions, is rapidly evolving from a point where civilizations were born in its cradle and then opened up to the world to become a geography where cultures meet again today. Despite the pandemic, Turkey, whose potential markets from Iran to Central Asia, from the Gulf to Europe and America have diversified and the demand for housing has increased, thus leading to the least shrinking markets in the world, is the most concrete proof of this.
Turkey is now a country where international buyers prefer to start a new life, work, spend their retirements, receive health and education services or invest by saying ‘Home Turkey
Home’. Based on this, we have named our digital platform ‘Home Turkey Home‘, which is the basis of our promotion attack, which includes The Guide to Acquiring Property in Istanbul’, which we have prepared in cooperation with ITO.