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Real estate sales to Russians in Turkey triple

Real estate sales to Russians in Turkey triple

Investments of Russian citizens in the housing sector in Turkey in January-September 2022 increased by 199% compared to the same period in 2021, to 9,311 units. Anadolu agency provides such data with reference to the Turkish Institute of Statistics (TurkStat).

Home sales to foreigners across the country in nine months increased by 32.5% year on year and amounted to 49,600 units. Most housing for 9 months sold in Istanbul – 19,600.

Approximately 40 of the 100 residential properties purchased by foreigners in Turkey were in Istanbul. This is followed by Antalya – 14,700, Mersin – 2,600, Ankara – 2,600 thousand, Bursa – 1,500, Yalova – 1,400, Sakarya – more than 1,000.

The top ten also includes Izmir, Samsun, and Trabzon.

The main factor stimulating the growth of investment in real estate in Turkey was the war between the Russian Federation and Ukraine.

Accelerated growth in the number of housing units purchased in Turkey by citizens of Ukraine and the Russian Federation has been observed since March.

During the same period last year, Russians purchased 3,100 housing units in Turkey.

The number of houses bought by Ukrainians increased by 125% to 1,800.

For 9 months of the year, Iranian citizens purchased 6,500 residential properties in Turkey, Iraqis – 5,260, citizens of Germany – 2,000, Kazakhstan – 2,000, Afghanistan – 1,500, Kuwait – 1,300, Yemen – 1,000, and US – 1,000.

The head of the Helmann investment company, Selman Ozgun, said that the war between Russia and Ukraine had greatly affected housing sales to foreigners.

“After the start of the war, Russian investments in Turkey increased. If earlier the Russians were third on the list, now they are leading it,” he said.

Ozgun noted that the housing purchased by Russians and Ukrainians in July made Antalya again the leader among Turkish provinces after 68 months.

“In the first 9 months of this year, more units were sold in Antalya than in all of last year. The number of homes sold increased by 102% compared to the same period last year, to 14,700 units. The record was achieved thanks to the growth in demand from the Russian Federation and Ukraine. Demand for real estate in Antalya is growing not only among the citizens of the Russian Federation, but throughout the world. By the end of the year, the number of housing sold to foreigners will exceed 19,000-20,000,” he said.