Turkish real estate firms to be promoted to Turks in Europe

ISTANBUL

Some 76 Turkish real estate firms will introduce projects to Turks in Dusseldorf, Germany as part of the “My Home Turkey” real estate and investment fair supported by the Environment and Urbanization Ministry, Demirören Media and ISTexpo on Feb. 8-10.

For three days, participant companies will introduce special campaigns, payment methods and details of the projects on a 4,900-square-meter fair area.

The exposition is organized with Lineadecor’s partnership and Turkish Airlines’ official transportation sponsorship.

“Demirören Media has a special place in the industry with the news it reports on international platforms and media and the magazines and newspapers it publishes,” said Environment and Urbanization Minister Murat Kurum, conveying special thanks to Demirören Media for organizing the event.

“The fair is quite important to encourage our citizens in Europe to buy real estate from Turkey and for being a platform on which our citizens residing in Europe can easily invest,” Kurum added.

Turkey’s Housing Development Administration (TOKİ) will also take part in the expo, according to the minister.

“Our expatriates purchasing real estate from Turkey will be beneficial to Turkey’s economy as well as [their] homesickness,” said Şekib Avdagiç, the president of Istanbul Chamber of Commerce (ICOC).

He also said that 17 firms are participating in the event under ICOC, and demands from the real estate sector were so high that they had to widen the stand area to 400 square meters, almost 10 percent of the exposition area.

“In 60 years, expatriates will open new doors to their homeland. In some way, it will be a step toward reverse migration. This is the exposition in which investment is most desirable for our expatriates,” Avdagiç added.

According to figures Avdagiç provided, over 6 million Turks are residing overseas and at least 3 million of the number is in Germany.

More than 600,000 Turks are active in business in Germany, as Avdagiç said.

“This year, German tourists coming to Turkey is aimed to hit 5.6 million. It will not be a surprise than this attention will also be reflected in real estate. The exposition carries a lot of potential for our firms in this sense,” he added.

Avdagiç also stressed that in 2018, foreigners have purchased approximately 40,000 estates in Turkey and 36 percent were in Istanbul.

In 2018, over 1,000 German citizens have bought property from Turkey.

“It is not tough to increase this figure to 10,000,” said Advagiç.

Apart from the 76 firms, the Association of Housing Developers and Investors, Association of Istanbul Constructors and Association of Real Estate and Real Estate Investment Companies will also participate to the exposition.

Many celebrities, including German-born Turkish football player Hamit Altıntop and German actress who has acted in several Turkish TV series Wilma Elles, will attend the fair.