Turkey: Russians rank third in number of real estate transactions

During the year, foreigners made 1800 real estate transactions in Turkey, of which 30% fell on Istanbul. The Russians accounted for 7.6% of total sales: in May 2016 they purchased 134 real estate properties. This is reported by PBC with reference to the Nurriyet Daily News and the data of the Turkish Statistical Institute.

In total, from May 2016 to May 2017, foreigners bought almost 1800 properties in Turkey, which is 10.1% more than the year before. Russians twice overtook the people of Saudi Arabia, who committed 285 transactions during the year, and Iraqi citizens who bought 277 real estate. Not much of the Russians are behind the Kuwaiti residents who bought 125 objects, and the top-five come from Afghanistan, who made 70 deals, reports Nurriyet Daily News.

Almost one third (30%) of purchases of Turkish real estate by foreigners occurred in the most populated city of Turkey, Istanbul, about a quarter (24.9%) - to the Mediterranean resort of Antalya, about 7% to the Trabzon located on the Black Sea coast, the note says.

In 2016, the number of foreigners who bought real estate in Turkey, decreased by 16.3%. Russians also ranked third in foreign real estate transactions (107 transactions), most of which were committed in Istanbul, and secondarily in Antalya.

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