EconomicalHousing

Russia is the leading buyer of property in Turkey


According to Tejarat News, during the month of July, a total of 93 thousand 902 residential houses were bought and sold in Turkey, of which 3 thousand 939 units were bought by foreign citizens.

Asr-e Iran According to Anatoly, Russian citizens were the first with the purchase of 1,028 housing units in Turkey, and Iranian nationals with the purchase of 431 units ranked second among foreign home buyers in July this year.

According to the data of the Turkish Statistics Organization “TÜİK” last July, 3 thousand 939 residential units were sold to foreigners across the country, of which the largest number with 1028 units were purchased by Russian citizens.

During the month of July, a total of 93,902 residential houses were bought and sold in Turkey, of which 3,939 units were purchased by foreign citizens.

Citizens of Iran purchased 431 housing units and Iraq purchased 380 housing units in July after Russians.

Based on this, the total amount of housing sales to foreigners in July has faced a 12.4% drop. Also, during this month, the percentage of house purchases by foreign citizens was 4.2% compared to the total transactions.

On the other hand, the city of Antalya has the highest number of houses sold to foreigners in July with 1421 housing units. Istanbul and Mersin were placed after Antalya with the sale of 1154 and 289 housing units, respectively.

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EconomicalHousing

Russia is the leading buyer of property in Turkey


According to Tejarat News, official statistics show that sales of Turkish residential property more than doubled in May as the number of buyers jumped and the Russians topped the list for the second month in a row.

ایسنا Data from the Turkish Statistical Institute (TurkStat) show that despite high borrowing costs and spiraling prices, home sales rose 107.5 percent last month from last year to 122,768 homes.

Quarantine measures to curb the Corona virus pandemic in May last year saw sales fall to 55,166 units.

The data also show that mortgage sales in May rose 177.8 percent from a year earlier to 29,335, accounting for 23.9 percent of total sales in the period.

The rise comes amid declining supply and rising prices, but households continue to view real estate as an attractive investment tool to protect themselves against inflation, which has reached a 24-year high of nearly 73.5 percent.

Which Turkish cities have the most housing sales?

Home sales in Istanbul, Turkey’s largest city with a population of 22,148 units last month, had an initial share of 18 percent. It is followed by Ankara, the capital of Turkey with 11,497, and Izmir Province with 7,159 in the Aegean Sea.

These data show that sales in May fell by 7.73%.

From January to May, sales increased by 37.7% compared to the same period last year and reached 575,889 homes.

Sales to foreigners rose 235.7 percent year-on-year to 5,962 after rising 58.1 percent in April as they sought to use a Turkish citizenship scheme to buy a home, the institute said.

This plan has made Turkish real estate more attractive in recent years.

“Before the law was enacted, which increased the minimum purchase value of the project from $ 250,000 to $ 400,000, sales to foreigners increased,” officials said.

How many houses did the Russians buy in Turkey?

Russian citizens topped the list in May with 1,275 homes, followed by Iranians and Iraqis with 736 and 617 home purchases, respectively. According to the data, Russians and Ukrainians account for more than 25% of sales to foreigners.

Statistics show that from January to April, housing sales to foreigners reached 26,753 units, an increase of 70% over the same period last year.

Sales to foreigners also bring foreign currencies into the Turkish economy and help support the lira as it remains under selling pressure.

Officials in the sector estimated that $ 10 billion would enter the economy in 2021 by selling homes to foreigners, reaching a record 58,576 units in 2021, up 43.5 percent from a year earlier.

The previous annual record was set in 2019 with 45,483 devices.

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