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Ö. Akay et al.
18.1 Introduction
The sensitivity of the construction and housing sector to the general economic conditions is different in each country. The construction and housing sector in the global
market has extensive experience and potential. The construction sector is the locomotive sector since it affects more than 250 sub-sectors connected to it. The construction
sector, which is based on domestic capital, is also absorbing unemployment due to
create employment related to hundreds of occupations. The employment potential
created for production by Turkish construction and sub-sector components provides
important advantages for the national economy. In addition, housing not only contains
economic and demographic factors, but also has socioeconomic, sociodemographic
and sociopsychological qualities. According to TurkStat data, the expatriate Turks,
which turned the rise of foreign exchange into an opportunity to invest in real estate
in their countries, accelerated the purchase of immovable properties, especially in
Izmir and Istanbul. Turkish real estate purchases increased by 23% compared to
the same period of 2016. After the amendment of the reciprocity law, there was an
explosion in selling property to foreigners.
Middle East countries and other countries buying heavily housing from Turkey
prefer green and cool regions such as Izmit and Trabzon as well as Istanbul, Antalya,
Izmir and Yalova. According to TurkStat data, existing home sales to foreign countries from Turkey, the record levels reached 40 thousand in 2018. This increase in
housing sales was influenced by the increase in exchange rates of 2018, a valueadded tax (VAT) exemption for non-Turkish citizens, the reduction of the value to be
paid for foreigners to obtain Turkish citizenship from 1 million dollars to 250 thousand dollars, and international promotion and fair activities. Turkish citizens living
in Germany and foreigners wishing to acquire immovable property in Turkey is able
to land transactions with Berlin Land Registry and Cadastre Office established in
Consulate General of Berlin by General Directorate of Land Registry and Cadastre.
In addition to procurement transactions, deed registration sample, mortgage, donation transactions and title deed registration, exchange, transfer, applications and map
related to cadastral data can be done in this agency. The land registry and cadastre
offices planned to be installed in any two countries, Denmark, Austria, Germany,
Belgium, Greece, Russia, Britain, the Netherlands, Norway, Qatar and Turkey. While
determining these countries, the number of Turkish citizens living in the country, the
number of foreigners who acquire real estate, high potential countries and economic
and historical relations are taken into consideration.
In this study, panel data sets were created by obtaining economic indexes data of
the expatriate Turks demanding house in Turkey for monthly in 2013–2016 and of
the foreign countries demand for housing in Turkey for monthly in 2015–2016. The
data used in the analysis were taken from TURKSTAT (Turkey Statistical Institute).
When households living outside Turkey are demanding house in Turkey, according
to their expectation, cluster analysis was performed using the k-prototype algorithm
to find the similar characteristics of preferred provinces and the countries they live
in. R program was used for analysis.
Ö. Akay et al.
18.1 Introduction
The sensitivity of the construction and housing sector to the general economic conditions is different in each country. The construction and housing sector in the global
market has extensive experience and potential. The construction sector is the locomotive sector since it affects more than 250 sub-sectors connected to it. The construction
sector, which is based on domestic capital, is also absorbing unemployment due to
create employment related to hundreds of occupations. The employment potential
created for production by Turkish construction and sub-sector components provides
important advantages for the national economy. In addition, housing not only contains
economic and demographic factors, but also has socioeconomic, sociodemographic
and sociopsychological qualities. According to TurkStat data, the expatriate Turks,
which turned the rise of foreign exchange into an opportunity to invest in real estate
in their countries, accelerated the purchase of immovable properties, especially in
Izmir and Istanbul. Turkish real estate purchases increased by 23% compared to
the same period of 2016. After the amendment of the reciprocity law, there was an
explosion in selling property to foreigners.
Middle East countries and other countries buying heavily housing from Turkey
prefer green and cool regions such as Izmit and Trabzon as well as Istanbul, Antalya,
Izmir and Yalova. According to TurkStat data, existing home sales to foreign countries from Turkey, the record levels reached 40 thousand in 2018. This increase in
housing sales was influenced by the increase in exchange rates of 2018, a valueadded tax (VAT) exemption for non-Turkish citizens, the reduction of the value to be
paid for foreigners to obtain Turkish citizenship from 1 million dollars to 250 thousand dollars, and international promotion and fair activities. Turkish citizens living
in Germany and foreigners wishing to acquire immovable property in Turkey is able
to land transactions with Berlin Land Registry and Cadastre Office established in
Consulate General of Berlin by General Directorate of Land Registry and Cadastre.
In addition to procurement transactions, deed registration sample, mortgage, donation transactions and title deed registration, exchange, transfer, applications and map
related to cadastral data can be done in this agency. The land registry and cadastre
offices planned to be installed in any two countries, Denmark, Austria, Germany,
Belgium, Greece, Russia, Britain, the Netherlands, Norway, Qatar and Turkey. While
determining these countries, the number of Turkish citizens living in the country, the
number of foreigners who acquire real estate, high potential countries and economic
and historical relations are taken into consideration.
In this study, panel data sets were created by obtaining economic indexes data of
the expatriate Turks demanding house in Turkey for monthly in 2013–2016 and of
the foreign countries demand for housing in Turkey for monthly in 2015–2016. The
data used in the analysis were taken from TURKSTAT (Turkey Statistical Institute).
When households living outside Turkey are demanding house in Turkey, according
to their expectation, cluster analysis was performed using the k-prototype algorithm
to find the similar characteristics of preferred provinces and the countries they live
in. R program was used for analysis.