FDI inflows in Türkiye increased to USD 13.3 billion, while real estate FDI was USD 5.6 billion, 42.2 percent of total FDI in 2021.
Urban renewal and mega projects dominate the agenda for the foreseeable future, particularly in Istanbul. Some projects in the city include Marmaray, Yavuz Sultan Selim Bridge, Eurasia Tunnel, and Istanbul Airport.
The Urban Renewal and Development initiative will encompass 7.5 million housing units. The initiative has a budget of USD 400 billion, with a large contribution coming from the private sector.
The total number of homes sold in the Turkish property market was 1.4 million units in 2021. Sales of real estate to foreigners began to increase following the abolishment of the reciprocity law in 2012. In 2021, a new record was set with the sales of 58,576 homes to foreigners in Türkiye. Regarding home sales to foreigners, Istanbul was the top-performing province with 26,469 sales in 2021, followed by Antalya with 12,384 sales, Ankara with 3,672 sales, and Mersin with 2,513 sales.
Source: Presidency of the Republic of Turkiye Investment Office (https://www.invest.gov.tr)