The increase in trade between Turkey and China has also been reflected in the real estate market. Real estate sales to Chinese have began to rise after a 3-year decline.
Especially after the amendment on decision regarding grant Turkish citizenship to investors, the Asian countries’ interest in buying Turkish real estate has increased.
Turkey-China trade is growing with each passing year, and the trade deficit between the two countries also decreases every year.
While the trade volume between Turkey-China is more than 23 billion dollars, Turkey’s total exports to China reach 21 billion dollars.
It is expected that China’s direct investment in Turkey will double by the end of 2019, surpassing 4 billion dollars.
As for the tourism sector, the number of Chinese tourists has increased by 2 times compared to 2017 and has reached 500 thousand.
Three years ago, China was among the top 10 countries for Turkish real estate buyers, but after that, real estate sales to Chinese citizens decreased.
However, the Chinese buyers are increasing again now.
Chinese companies buy much real estate in Turkey
After the G-20 summit held in the summer, the Chinese people felt their weight in the global trade. Chinese high-income investors who want to get foreign citizenship have started buying Turkish real estate.
A Chinese company has bought a building for 95 million TL and aims to buy real estate worth 500 million TL from Turkey until the end of 2020.
Chinese companies are now buying properties in bulk, and then they will sell them to individual Chinese investors.
In 2020, the Chinese are expected to be among the top 3 foreign nationalities of Turkish real estate buyers.
Edit By: Realty Group