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New Record in 2018 for Housing Sales to Foreigners in Turkey

Posted by Mehmet Koç on 6 February 2019
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In 2018, 1,375,398 housing has changed hands as a result of sales in Turkey

Housing sales decreased by 2.4% in 2018 compared to the previous year. In 2018, Istanbul holds the top place in sales with 234,055 houses and a share of 17%. According to sales figures, Istanbul was followed by Ankara with 131,161 housing sales and 9,5% share and Izmir with 75,672 housing sales and 5,5% share. The lowest sales rate is in Hakkari with 159 houses. 276,820 of all sales in Turkey happened through residential mortgage, while 1,098,578 of them took place in other types of sales.

In 2018, 39,663 houses have been sold to foreigners in Turkey

In 2018, housing sales to foreigners increased by 78.4% compared to the previous year. In 2018, Istanbul ranked first in housing sales to foreigners with 14,270 houses and Antalya ranked second with 7,938 houses. Antalya was followed by Bursa with 2,720 houses and Ankara with 2,133 houses.

Purchases by Foreigners Increased Over Months

Apartment purchases made by foreign citizens in Turkey increased immensely throughout the years. The great appeal of Turkey and also the economic crisis, which created a big opportunity for foreigners due to Turkish currency to lose value against foreign currencies, were the biggest motives that drove foreigners purchase apartments in Turkey. The image below shows this increase over months that is obviously seen as a rising trend.

According to the nationalities, most of the houses were sold to Iraqi citizens.

Iraqi citizens have bought 8205 houses from Turkey in 2018. Iraq was followed by Iran with 3,652 houses, Saudi Arabia with 2,718 houses, Russian Federation with 2,297 houses and Kuwait with 2,199 houses.

In December, Iraqi citizens bought 897 houses from Turkey. Iraq was followed by Iran with 435 houses, Saudi Arabia with 268 houses and Russian Federation with 257 houses.

Men owned 790,006 houses in 2018 while women became the owner of 421,286 housings in Turkey.

In Turkey in 2018, men became the owner of 790,006 housings with a share of 57.4% ,women 421,286 housings with 30.6% share and women& men jointly became the owner of 26,877 housings with a share of 2%.Istanbul became the top purchased city in Turkey by women with 65,166 residential sales and 15.5% share.128,221 houses in Istanbul were bought by men, while the number of houses bought together by women and men was 5,726.The provinces with the least housing sales were Ardahan with 30 houses sold to women and Hakkari with 112 houses sold to men.

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