Turkey
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Author: Luxury Estate Turkey
Viewed 176 times
19 October 2022
Due to the Ukraine-Russia war, there were significant shifts in the sales of housing to foreigners on the basis of countries. According to the latest developments, Russia has been in the first place in housing purchases in Turkey for the last six months, according to TUIK data.
Turkish Statistical Institute (TUIK) announced January-September 2022 housing sales data. According to these data; Foreign investors bought 49,644 of the 1 million 57 thousand 193 houses sold in the January-September period. In the ranking of the country that sells the most real estate from Turkey, Russia has been in the first place for six months.
İbrahim Boztaş, Chairman of the Executive Board of Luxury Estate Turkey, evaluated the figures announced by TÜİK. Boztaş noted that in the first nine months of 2022, 1 million 57 thousand 193 houses were sold in the country and the increase was 11.4 percent compared to the same period of the previous year.
Explaining his views on the latest developments in housing sales to foreign investors, Boztaş said, "According to TUIK data, 49 thousand 644 of the 1 million 57 thousand 193 houses sold in the January-September period were bought by foreign investors. Thus, the increase in housing sales to foreigners was 32.5 percent compared to the same period of the previous year. People from 80 different countries buy real estate in Turkey today. Until today, Iraq was at the top of the list and Iran was at the second. This situation changed with the Russia-Ukraine war. Since April, Russia has been the first in the list of "countries with the highest sales in Turkey" announced by TUIK. In the January-September period, the number of residences the Russians bought from us was 9311. Our monthly average in house sales to Russians is in the thousands. I think that the mobilization order announced in Russia will increase Russian-centered interest. We expect the interest to continue to increase until the end of the year.”
Foreigners prefer Turkey
According to TUIK data, the other five countries that buy the most housing from Turkey are Iraq, Iran, Kazakhstan, Germany and Ukraine. Stating that Turkey is among the top 10 worldwide in housing sales to foreigners, Boztaş said, “Turkey has become one of the 10 countries that attract the most investment in real estate with its promotional activities in recent years. Foreigners buy real estate in Turkey to invest or live. The interest shown in our country will continue to increase in the coming years.”
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