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Housing sales to foreigners in Turkey: Which country’s citizens buy housing the most?

Enes Sahin 17 April 2022

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Housing sales to foreigners in Turkey increased by 31 percent in March compared to the same month of the previous year and reached 5 thousand 567. The share of house sales to foreigners in total house sales last month was 4.1 percent.

Turkish Statistical Institute (TUIK) announced the house sales statistics for March. Accordingly, 134 thousand 170 houses were sold in Turkey in March.

The number of houses sold in March increased by 37.5 percent compared to February and by 20.6 percent compared to the same month of the previous year. In February, 97 thousand 587 houses were sold.

Istanbul had the highest share in house sales with 23,974 house sales and 17.9 percent. This province was followed by Ankara with 12 thousand 609 house sales and 9.4 percent share, and Izmir with 8 thousand 51 house sales and 6 percent share.

The provinces with the lowest number of house sales were recorded as Ardahan with 25 houses, Bayburt with 82 houses and Tunceli with 103 houses, respectively.

House sales by nationalities for top 20, March 2022

38.8 percent increase in mortgaged house sales

Mortgaged house sales across the country increased by 38.8 percent on an annual basis in March, reaching 30,271. The share of mortgaged sales in total house sales was 22.6 percent.

Mortgage sales in the January-March period, on the other hand, increased by 44.7 percent compared to the same period of the previous year, and amounted to 68 thousand 342.

It was determined that 7,767 of the mortgaged sales in March and 18,485 of the mortgaged sales in the January-March period were first hand sales.

Other house sales across the country increased by 16.2 percent in March compared to the same month of the previous year, reaching 103 thousand 899. The share of other sales in total house sales was calculated as 77.4 percent.

Other house sales in the January-March period, on the other hand, increased by 16.6 percent on an annual basis to 251,721.

The share of first-hand housing sales was 28.6 percent

The number of first-hand housing sales increased by 14.9 percent in March compared to the same month of the previous year and reached 38 thousand 337. The share of first hand house sales in total house sales was determined as 28.6 percent. In the January-March period, the first hand house sales increased by 17.5 percent compared to the same period of the previous year and became 94 thousand 437.