Home sales to foreigners exceeds 357 thousand in 10 years

The number of houses purchased by foreigners in Turkey in the last 10 years has exceeded 357 thousand. The lifting of the limits on the purchase of real estate by foreigners in 2012 and the subsequent application of granting citizenship with money increased sales.

Treasury and Finance Minister Nureddin Nebati boasts about the amount of foreign capital coming to Turkey, but a significant part of this figure is made up of real estate sold to foreigners.

From May 2012 when the regulation known as the Reciprocity Law, which removed the restrictions on foreigners from buying real estate in Turkey entered into force to March 2023 the number of houses sold to foreigners in Turkey reached 357 thousand 343.

SALES OF $ 47.7 BILLION IN 10 YEARS

While there were 128.9 billion dollars of foreign direct capital inflows to Turkey in the period 2013-2023, real estate purchases accounted for 37 percent of this figure with 47.7 billion dollars.