Foreigners buying Turkish Homes at a Rate of 50 per Day

According to the latest data from the Turkish Statistical Institute (TurkStat), a total of 81,754 homes were sold to foreigners between January 2013 and June 2017 – this is an average of nearly 50 homes per day. From April to May this year, foreign property purchases increased by 18.6% when compared to the same period last year.

Istanbul was once again the favourite investment destination for foreigners, with 24,813 homes sold to foreigners over the same 4 1/2 year period, representing around 30% of all foreign purchases. Antalya province was a close second with 24,605 sales followed by Bursa province on 4,850.

In respect of nationality, Saudis, Kuwaitis and Iraqis have been the most prolific buyers for the lasts 2 1/2 years. From January 2015 to June 2017, Iraqıs purchased 8,909 properties, followed by Saudis (6,107) and Kuwaitis (4,672).

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