In Turkey Great Increase in Housing Sales to Foreigners

According to the data of the Turkish Statistical Institute (TUIK), house sales to foreigners increased by 235.7 percent in May compared to the same month of the previous year and reached 5 thousand 962. While house sales across the country doubled in May on an annual basis, the share of foreigners in these sales increased. While the share of house sales to foreigners in total house sales in April was 4.8 percent, this share increased to 4.9 percent in May.

Demand from Russia is Growing

After the recent political crises and Russia's occupation of Ukraine at the end of February, many Russian citizens turned to real estate for sale, especially in Istanbul and Antalya.

In April, the most house sales were made to Russians. Many real estate companies report that Russians seeking financial asylum have poured money into properties in Turkey following the occupation and Western sanctions.

Citizens of the Russian Federation bought 1152 real estate in Turkey in April. Russians are followed by Iranians with 905 houses and Iraqis with 714 houses.

While many Ukrainians fleeing the conflict began to live with their families in Turkey, others chose to rent or buy housing. Ukrainians, who bought 92 houses last year, bought 263 houses in April with an increase of 186% compared to last year.

Foreıgn Citizens are 28 Percent of Sales in Antalya

In May, Istanbul took the first place in house sales to foreigners with the sale of 2 thousand 451 houses. Istanbul was followed by Antalya with 1,885 house sales and Mersin with 264 house sales, respectively. However, foreign interest in housing sales in Antalya proportionately surpassed other provinces.

Prices in Antalya Exceeded 1.1 Million Turkish Liras

Question to the Housing Market report for sale announced by Bahcesehir University and Social Research Center (BETAM) for April 2022, it is seen that a 100 square meter house in Antalya exceeds 1.1 million TL.

According to the report, as of April 2022, the average price of a house of 100 square meters across the country is 972 thousand TL, while this amount is 1 million 163 thousand 800 TL in Antalya.

In Antalya, this amount was 1 million TL in March 2022.