Which cities do foreigners prefer to buy a home?

October 18, 2024 BTT

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According to data from the Turkish Statistical Institute (TÜİK), by the end of September this year, 17,090 homes were sold to foreigners in Turkey, marking a sharp 39% decline. The city where foreigners bought the most homes has been revealed.

Antalya ranked first with 5,990 homes sold, followed by Istanbul with 5,979 homes. Two out of every three properties sold to foreigners in Turkey are located in these two cities.

Antalya and Istanbul are the two most preferred cities for foreign investment in housing and living in Turkey. By the end of September, two-thirds of the homes sold to foreigners were in these two cities. According to TÜİK data, the total number of homes sold to foreigners in the first nine months of this year reached 17,090, representing a 39% decrease compared to the same period last year. The sharp decline that began earlier in the year continued in September. Foreign home sales in September decreased by 31% compared to the same period last year, totaling 2,022 homes. The share of foreign home sales within the total home sales in September was 1.4%.

ANTALYA RANKS FIRST

Antalya, a city particularly favored by foreign, especially Russian citizens, both for tourism and living, leads in home sales. In the first nine months of this year, one in every three homes sold to foreigners in Turkey was from Antalya. The city recorded 5,990 home sales during this period, placing it first in the country. However, there was a 43% drop in Antalya compared to the same period last year when 10,372 homes were sold.

Istanbul is the second most preferred city by foreigners purchasing property in Turkey, with a total of 5,979 homes sold to foreigners in the first nine months of this year. This represents a 34% decrease compared to the same period last year. In September, the cities with the highest number of home sales to foreigners were Istanbul (783), Antalya (548), and Mersin (210).

RUSSIANS BUY HIGHEST NUMBER HOMES

In terms of nationality, the most homes were sold to Russian citizens. In September, the highest number of home sales by nationality was to citizens of the Russian Federation (346), followed by Iran (163) and Iraq (139). As of the end of September, Russians purchased 3,635 homes in the first nine months of this year, down from 8,683 homes in the same period last year.