ECONOMY

Global real estate firm ERA declares 2019 its 'Turkey Year'

The global real estate consultancy firm ERA has declared 2019 as "Turkey Year" and will be selling real estate in Turkey with its 1,100 offices in 14 countries.

ERA Europe President Francois Gagnon said they will reach both Turks living in Europe and foreign investors in this regard. "We receive serious demand from Germany, the Netherlands and the Scandinavian countries for Turkey, which is currently the shining star of Europe in real estate," he added.

Legislative amendments that eased citizenship with investment limits for foreigners, campaigns launched by real estate developers and banks, and spiking foreign currency have been reflected positively in housing sales.

Making a rapid start to the new year, residential property sales to foreign buyers reached 6,471 units in the first two months of the year, corresponding to an 87 percent increase year-on-year.

The interest of foreigners in the Turkish real estate market has also stimulated the real estate consulting sector. ERA, which has recently declared 2019 as "Turkey Year," has also been working on the marketing of Turkish real estate in Europe.

Gagnon said they have launched a Turkey mobilization process with 1,100 offices and 5,000 real estate consultants in 14 countries, indicating that the Turkish population living in Europe, as well as Europeans who want to invest in Turkey, are their two major targets. "The first generation in Europe want to invest in their own country. When we look at the second and third generations, the interest is mostly shifting to major cities. Because they see the potential here very clearly," he added. "Meanwhile, the situation is similar for Europeans. Today, for many Europeans, it is more advantageous to have a residence in Turkey, especially in the coastal areas, than getting one in Nice or Cote d'Azur. First, the prices are much more affordable, and then the houses are much better quality."

Gagnon noted that prices in Turkey have become much more suitable for foreigners with the recent fluctuations in foreign exchange rates. "In countries such as Germany, the Netherlands and Belgium, which have a dense Turkish population, there is a high interest in Turkey," he said. "Other than that, there is a very serious segment in the Scandinavian countries, particularly in Sweden, who want to invest in Turkey, which is currently the shining star of Europe in real estate."

"Turkey is the European country that promises the highest potential. The key point here is the right transfer of this potential," he further stressed. "Nowadays, in the fo

reign press, we see biased and misleading news about Turkey. Turkey is extremely safe and offers great opportunities."

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