Sharp increase in sales of houses to foreigners in Turkey

Housing sales to foreign buyers have jumped by close to 60 percent for the January to November period, as data from the Turkish Statistical Agency (TÜİK) has shown.

Housing sales to foreigners in Turkey increased 59 percent compared with the same period in the previous year, rising to 17,104 from 10,740. Foreigners bought 1,554 houses on average per month.
The purchases have primarily been in Antalya, where foreigners bought 6,035 houses.

Istanbul is the second favorite location, with 6,035 houses purchased, while 1,104 were purchased in the Aydin province.

Sales in these favorite locations accounted for 71 percent of all housing sales to foreigners.

The overall housing market in Turkey is flat. The total housing sales in the Turkish market stalled this period, with the total sales slightly declining from $1.04 million to $1.03 million. Sharp interest rate hikes introduced in late January and a slowing economy have made purchasers cautious at this time.