Feb 5, 2023

Istanbul tops Turkish cities that sell properties to foreigners in August

Real estate sales to foreigners in Turkey recorded a record high last August compared to the same month in previous years, as Istanbul topped the list of Turkish cities that sell real estate to foreigners, according to Daily Sabah.

Housing sales to foreign buyers increased during the same period, up 8% to 3,893 units.

Istanbul, the country’s largest city by population, enjoyed the lion’s share of sales to foreign buyers, with 1,648 units. The Mediterranean resort city of Antalya followed with 784 properties, while the capital Ankara came third with 288.

Meanwhile, in January-August, some 1.2 million residential properties were sold in Turkey, rising 42.6% from the same period last year.

TurkStat said housing sales to foreigners have recorded 20,896 in the first eight months of this year.      

In general, residential property sales in Turkey rose 54.2% year-on-year in August, the country’s statistical authority announced Tuesday (September 15).

In the month, a total of 170,408 houses were sold, the Turkish Statistical Institute (TurkStat) said in a statement.

It is worth mentioning that a research, conducted by the U.S.-based international real estate investment company Remote Ventures, which listed the 25 most advantageous real estate investment markets, has placed Turkey at the 14th place, outpacing countries like Spain, Portugal and Greece thanks to its affordable prices, growth projections and stable tourism market.

Based on AA, DS
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