In January 2025, home sales in Turkey increased by 39.7% compared to the same month in 2024, according to a report by the Turkish Statistical Institute.The provinces with the most transactions are Istanbul (18,912), Ankara (10,158) and Izmir (6,634).
The activity in the market is due to the fact that people expect a reduction in interest rates and believe that after that prices will go up again. In recent months, some depositors have withdrawn money from banks and started buying homes, believing that property prices have bottomed out and will rise in the near future, Hurriyet Daily News writes.
According to Endeksa, in January, apartments and houses in lira rose in nominal terms by 25% year-on-year, but fell by 13%, adjusted for inflation.
Sales of apartments and houses to foreigners in January decreased by 24.9% compared to the same month last year.
The provinces in which foreign citizens have purchased the most real estate are Istanbul (611 units), Antalya, including Alanya (469 units) and Mersin (118 units).
Russians are the leaders among foreign buyers (248 transactions). They are followed by Iranians (162 transactions), Iraqis (103 transactions), Ukrainians (94 transactions), Germans (75 transactions), and Azerbaijanis (50 transactions). Kazakhstanis are in 9th place (41 deals), while the British complete the top ten (39 deals).
The share of non-residents in the total volume of transactions amounted to 1.4% in the first month of 2025.
The results of 2024 in the real estate market of Turkey and other foreign countries
