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New record in March - Turkey property sales to foreign buyers

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Posted by Roy Weatherby on 29 April 2022
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New record in March - Turkey property sales to foreign buyers

House sales in Turkey increased to 134,170 properties overall in March, up by 20.6% year-on-year according to the Turkish National Statistical Institute (Turkstat), continuing the recent trend and demonstrating that real estate continues to be seen an attractive investment tool in spite of the rising prices and reducing stock.

The increase is in part due to the steady flow of foreign buyers and follows year-on-year increases for December, January and February of 113.7%, 25.1% and 20% respectively.

Foreigners purchased 5,567 properties. Russians and Ukrainians accounted for the third largest share at 547 units, following Iranians and Iraqis with 784 and 741 units respectively.

Home sales to foreign buyers hit a new high at 58,576 properties in 2021, reflecting a 43.5% increase year-on-year. The previous record was set in 2019 with 45,483 properties sold to foreigners.

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