Home sales in Turkey increased by 5.1% in March compared to the same month last year, according to a report by the Turkish Statistical Institute. Provinces with the most transactions: Istanbul (19,820), Ankara (10,203) and Izmir (7,513).
In the 1st quarter, apartment sales and homes increased by 20.1% year-on-year due to a sharp increase in mortgage transactions.
Home sales to foreigners
Foreigners bought 11.5% fewer apartments and houses in Turkey in March than in March last year and half as many as in March 2023. The share of transactions with non-residents was 1.4%.
Most of the contracts were concluded by citizens of other countries in the provinces:
In March, Russians were again in the lead among foreign buyers (275 transactions). The Iranians are in second and third place (153 deals) and Ukrainians (124 deals). Azerbaijanis and Kazakhstanis are in sixth and seventh place with 66 and 54 transactions, respectively.
In the 1st quarter, foreigners purchased 4,578 apartments and houses, which is 19.5% less than in the same period a year earlier.The trends in the Turkish real estate market are still ongoing. We talked about them in material based on the results of 2024.
Source: Turkish Statistical Institute
