Statistics on the sale of housing to the foreigner

Sales of Housing to Foreigner Break a Record in April

In 2021, the sale of housing to foreigners increased by 43.5 percent compared to the previous year, amounting to 58 thousand 576 units. By the end of 2022, this figure is projected to approach the 90 thousand band. When we evaluate the share of housing sales to foreigners in total housing sales on a monthly basis, it is seen that April reached the second highest rate (4.8%) since 2013. (The highest rate by month was 5.2 in November 2018.)

Foreigners Are Most Buying Housing In The Last Quarter Of The Year

According to TÜİK data, there was a total of 301.160 housing sales to foreigners in the period 2013-2021. When we examine the sales of housing to foreigners on a monthly basis between 2013-2021, the most residential sales were the last of the year we see that it happens in the months in the quarter.

Russians Peak in Housing Sales for the First Time

Iran, Iraq and Russia appear to be the nationaliTIES with the most residential sales in the last 2-3 years. Kazakhstan has also increased Turkey's preference for real estate investment. We see that Russia is increasing its real estate investments in Turkey, especially in April 2022. Russian national purchases increased by 111% compared to last month and 186.6 percent compared to the same period last year. With 1,152 residential sales in April 2022, Russians for the first time became the foreign nationality, where the most housing was sold.

The impact of the Ukrainian-Russian tension on the Turkish real estate market is also seen in purchases of Ukrainian nationals, such as Russia. Sales of housing to foreign investors of Ukrainian nationality increased by 57% compared to the previous month. Due to internal turmoil in the country, Afghanistan has also been prominent in home purchases in recent times.

Compared to the same period last year, the sale of housing to foreigners increased by 49%.

According to the latest data released by TÜİK, there were 21 thousand 15 housing sales to foreigners in the first 4 months of 2022. April saw 6,524 sales, an increase of 16% compared to the previous month and 58% compared to the same month of the previous year.

The share of housing sold to foreigners in Antalya is increasing

When we examine the trend of the last 10 years in the sale of housing to foreigners, we see that Antalya took the first place in the 2013-14 period, and the top three rankings were in the form of Antalya, Istanbul, Aydın. From 2015 to 2019, the list progresses in the form of Istanbul, Antalya, Bursa, respectively. The capital Ankara receives and the provincial ranking of the most residential sold comes in the form of Istanbul, Antalya and Ankara until 2022. Although Istanbul has opened the difference between Antalya and housing sales especially after 2018, we see that in April 2022 this difference has fallen significantly.

When we evaluate the sale of housing on a provinces basis, it seems that the highest sales are in Istanbul, Antalya and Ankara. Although there was a rise in all of the top 10 provinces compared to the same month last year, the annual change in Antalya, Izmir, Samsun and Sakarya is greater than in other provinces. In particular, Antalya is approaching Istanbul with its rise in the recent period. The number of housing sales in Antalya increased from 859 to 1.970 in a year.

Value Increase Continues in Provinces Where Most Housing is Sold to Foreigner

When we look at housing (general) sales statistics in April 2022 of the first 3 years with the most housing sales to foreigners, 26.330 in Istanbul, 8.076 in Antalya, 12.195 sales in Ankara we see it happen. In this number, 2,564 housing made to foreigners in Istanbul corresponds to 10%, 1,970 sales in Antalya amounted to 24% and 333 sales made in Ankara corresponds to 3%. Especially when we look at it from the point of view of Antalya, we see that almost every 4 residences sold are sold to foreigners.

According to the index's data at the end of April, the average housing square meter prices were 13 thousand 558 in Istanbul, 11 thousand 360 in Antalya and 5 thousand 938 TL in Ankara. The average housing square meter price in Yalova reached 7 thousand 108 TL, in Yalova, where the sale of general housing accounts for 13% of the total housing outside the 3 provinces where there is the most housing sales. It is a remarkable statistic that there is a value increase of over 100% in provinces where housing sales to foreigners are present.

Görkem Ögüt, Co-Founder and General Manager of Endeksa, who shared his views on the subject, said, “The sale of housing to foreigners continues with an increasing momentum. We will see the effect of the reduction of the lower limit on citizenship through the purchase of real estate to 400 thousand dollars in the coming months. If we leave aside Istanbul in the sale of housing to foreigners, the most remarkable province is Antalya. Foreigners buy almost every 4 residences sold in Antalya as of the end of April. This is really an important statistic and a dynamic affecting the housing market in Antalya private. As of odds, Yalova comes across as another province that attracts attention. Sales to foreigners account for 13% of housing sales in Yalova. Yalova ranks 6th in April data. We see that there is a vibrant market in terms of foreigners in Yalova.”