Sales of Real-estate to foreigners increase in Turkey in 2018

Turkey has recently witnessed a significant increase in sales of real estate in Turkey to foreigners. This phenomenon began to spread during the last years, especially with the provision of the state of Turkey to several facilities to assist foreigners in the ownership inside Turkey.

The severe decline of the Turkish currency compared with the American dollar and Euro has an impact on the sales of real estate in Turkey.

Concerning the Real-Estate for Sale in Turkey, 1.3 million real-estate properties were sold in 2018, which is 2.4 percent more than the sales of real-estates in 2017, based on trend reports from the Turkish Statistical Institute (TURKSTAT). During that period, 234,000 real estate properties sold in Istanbul, 131,000 properties in Izmir, and 75,000 properties in Ankara.

“The remaining 860,000 real estate properties fall to the share of other cities such as Yalova, Bursa, Antalya …” TURKSTAT stated.

In 2018, 39,600 real estate properties were sold to foreigners in Turkey, which is 78.4 percent more than in 2017.

In 2018, the Iraqi citizens acquired 8,200 real estate properties in Turkey.

The citizens of Iran purchased 2,700 properties, while Russian citizens bought 2,200 properties.

The remaining 26,500 real estate properties fall to the share of citizens of other countries.

Taken from the Turkish Statistical Institute (TURKSTAT). Edited by Estaport.
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