30.01.2025 13:10
In 2024, the sale of residential properties to foreigners reached 23,781 units, marking the lowest figure in the last seven years, while the share of foreigners in total sales decreased to 1.6%.
In 2024, the sale of residential properties to foreigners reached 23,781, marking the lowest figure in the last 7 years, while the share of foreigners in total sales decreased to 1.6%. According to the housing sales statistics announced by the Turkish Statistical Institute (TÜİK) for 2024, there has been a decline in the number of foreign property purchases in the last two years, following the increase allowed by the Reciprocity Law, which came into effect in mid-2012.
THE MOST PROPERTIES SOLD TO FOREIGNERS WERE IN ISTANBUL
Last year, property sales to foreigners decreased by 32.1% compared to 2023, falling to 23,781, which is recorded as the lowest figure in the last 7 years. In 2024, the highest number of sales to foreigners was seen in December with 2,418, while the number of sales in April was 1,272. International investors purchased the most properties from Istanbul, with 8,416 units sold. It was observed that the megacity has been the leader in this area for 9 out of the last 12 years. After the outbreak of the Russia-Ukraine war, Antalya, which attracted significant interest from citizens of both countries, saw 8,223 properties sold to foreigners last year. Following Antalya, Mersin with 2,112, Ankara with 637, Yalova with 588, Bursa with 528, Kocaeli with 417, Aydın with 389, İzmir with 381, and Muğla with 365 properties sold.
RUSSIANS PURCHASED THE MOST PROPERTIES, FOLLOWED BY IRANIANS
Last year, the country with the highest number of property purchases in Turkey was Russia, with 4,867 units. Russians, who usually ranked third in previous years, have been at the top for the last 3 years. In second place were Iranians with 2,166, followed by Ukrainians with 1,631, Iraqis with 1,302, Germans with 1,283, and Kazakhstani nationals with 1,055. Other countries in the top 20 included Azerbaijan, Saudi Arabia, China, the USA, Afghanistan, the UK, Kuwait, Palestine, Egypt, Uzbekistan, Israel, Jordan, Sweden, and the Netherlands.
RECORD SALES WERE SEEN IN 2022
Looking at the years, the year with the highest number of property sales to foreigners was 2022, with 67,490 units sold. During this period, it was observed that 4.5 out of every 100 properties sold in the country were purchased by foreigners. International investors bought 35,005 properties the previous year, 58,576 in 2021, and 40,812 in 2020.
Since detailed explanations of housing sales data began in 2013, the number of properties purchased by foreigners and their share in total sales are as follows:
| YEAR | TOTAL PROPERTY SALES | PROPERTY SALES TO FOREIGNERS | SHARE OF FOREIGNERS (%) |
| 2013 | 1,157,190 | 12,181 | 1.1 |
| 2014 | 1,165,381 | 18,959 | 1.6 |
| 2015 | 1,289,320 | 22,830 | 1.8 |
| 2016 | 1,341,453 | 18,189 | 1.4 |
| 2017 | 1,409,314 | 22,234 | 1.6 |
| 2018 | 1,375,398 | 39,663 | 2.9 |
| 2019 | 1,348,729 | 45,483 | 3.4 |
| 2020 | 1,499,316 | 40,812 | 2.7 |
| 2021 | 1,491,856 | 58,576 | 3.9 |
| 2022 | 1,485,622 | 67,490 | 4.5 |
| 2023 | 1,225,926 | 35,005 | 2.9 |
| 2024 | 1,478,025 | 23,781 | 1.6 |