Home sales to foreigners in Turkey fell by 42% in September compared to the same month last year, according to the latest data published by the Turkish Statistical Institute (TÜİK), which also indicates an overall drop in real estate sales in Turkey of 9.5% last month, while overall mortgage purchases fell by 50.2% year-on-year, accounting for only 8.2% of total home sales in the country.
In total, 2,930 homes were sold to foreigners in Turkey during September, accounting for 2.9% of the total, according to the TÜİK report. Geographically, the province of Antalya on Turkey’s Mediterranean coast stood out as the place where most foreigners bought property, with a total of 1,007 homes sold, followed by Istanbul (978 homes sold) and Mersin (211). By nationality, the ranking of home sales to foreigners in Turkey was led by Russian nationals, with a total of 722 properties purchased in September, followed by Iranians (327) and Iraqis (191).
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Pablo Gómez is a specialist in Turkey and has been editor-in-chief of Hispanatolia since 2011. He has been analysing current affairs and geopolitics in Turkey and the surrounding region since 2006.
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