Statistics: How Many Flats were Sold in Turkey in 2022 and 2023?
Turkey is becoming a country where more and more people dream of living. Despite the multiple ways to obtain a residence permit and the possibilities of naturalization, the most expensive but safest way to reside in Turkey is to buy real estate.
For buyers, buying a house comes with many advantages. Nevertheless, there are some things to consider before buying a property. How many properties were sold in Turkey in the last year and who bought the most properties – we will talk about it in our article.
Who is Buying Real Estate in Turkey?
According to the Turkish Statistical Institute (TurkStat), real estate sales statistics, 1 million 485 thousand 622 houses for sale were sold in 2022, while the record sales to foreigners was 67 thousand 490 houses. The share of foreigners’ real estate purchases in total sales reached 4.5%. In 2023, sales decreased by 35.6% compared to the previous year and amounted to 85,652 houses.
According to statistics from Turkstat, the number of homes sold to foreigners in Turkey in April was 2,557, a 60.3% drop from the same month the year before. In April, 3.0% of all house sales were to people from outside the country. Antalya ranked first in house sales to foreigners with 1.24 house sales.
Turkey offers investors a profitable option with its strategic location, natural beauty, innovative and modern housing. Being a popular vacation destination especially for Russian tourists, it is in demand for cottage investment. In 2023, the highest number of real estate sales to citizens of the Russian Federation is an indication of this.
In April, 817 Russian Federation citizens purchased homes in Turkey. Iran was next with 377 houses, Ukraine was third with 136 houses, and Iraq was fourth with 124 houses.
The Turkish real estate market is actively developing despite all the challenges. We recommend that you always work with a professional consulting firm. This is very important because you may be exposed to fraud attempts. Contact us today for reliable offers and take the first step towards the right investment.
