President of the National Federation of Real Estate
Agencies, Abdel Hakim
Oweidat, reported a large number of Algerians rushing to the Turkish property
market to real estate properties from apartments and villas there.
"The motivation for Algerians to buy real estate in Turkey is to secure their money away from the problem of the devaluation of the dinar and the erosion of large amount of the owners' savings, After the former destination was Italy and Spain primarily Alicante city" Oweidat said.
Oweidat
explained that the dinar crisis and its devaluation during the last two years,
in addition to the stalemate in the real estate market in Algeria since 2009
and the development of the situation during the last year, prompted owners to
head to transfer their money to real estate in Turkey due to the exciting
prices there.
A report by
the Statistics Department of Turkey showed an increase of 7.68% in the number
of apartments sold in Turkey since the beginning of 2017 to 7.68% compared to
the same period last year. The sale of real estate in Turkey in September 2017
alone increased by 4.75% compared to the month last year, where 12,198
apartments were sold in Turkey during last month.
The sales
of residential apartments in Turkey to foreigners has increased by 8.97% since
the beginning of the year, compared to the same period last year, where 13.005 apartments
were sold in Turkey the same period.