By Justin Mays:
Turkey has received an increasing number of foreigners who are showing interest in the real estate market, for investment and Turkish citizenship. Different nationals have increased sales in different parts of the country and this news article is going to describe these statistics per quarter.
House Sales Statistics in Turkey
In the first quarter of 2022, 320.063 homes were sold in Turkey, 57.013 more compared to those sold in 2021 in the same quarter. 406.335 properties were sold in 2022’s second quarter while only 289.760 units were sold in 2021. The third quarter saw a drop and 330.795 units were sold compared to 395.328 units in the previous year. In the last quarter of 2022, 102.669 houses were sold in October there is potential for growth as more potential buyers are showing huge interest. The increase/decrease in sales per percentage compared to the same month of the previous year is - 25,28%.
First-Time Sales in Turkey
First-time house sales amounted to 94.437 units during the first quarter of 2022, 114.014 units during the second quarter and 103.667 units in the third quarter. 32.692 units were sold in October 2022. The increase/decrease compared to the same month of the previous year is -22% while the increase/decrease compared to the previous month is 9.7%.
Istanbul Housing Sales Statistics
Istanbul is among the favorite cities where foreigners opt to buy property in Turkey. The city has the advantage of lifestyle and investment properties and more so, it has business opportunities as the city is located both in the Asia continent and Europe continent. A total of 203,223 houses have been sold in Istanbul in 2022. 57,836 houses were sold in the first quarter, 76,476 more were sold in the second quarter, and 51,924 were sold in the third quarter.
Countries With Most Sales by Nationality
Russia has the highest sales in 2022 so far with 2.023 units bought, followed by Iran- 498, Iraq - 310, Ukraine - 216, Germany - 211, Kazakhistan - 200, Saudi Arabia - 166, Kuwait - 118, USA - 105, Azerbaijan - 99, UK - 98, Israel - 69, Egypt - 68, Jordan - 68, China - 67, Afghanistan - 62, Sweden - 57, Netherlands - Lebanon - 45, and Palestine - 42.
