Real Estate

Turkey: Record in house sales to foreigners

In the first 8 months, a historical record was broken with 30,849 units in house sales to foreigners. US purchases have more than tripled. The sector is of the opinion that its target of 50 thousand will be reached this year.

The interest of foreigners in the housing sector in Turkey continues unabated. Housing sales to foreigners increased by 50.7% compared to the same period of the previous year and reached 5,866 thousand units in August. The number of sales achieved in August was recorded as the second highest of all time, and as a historical record as of August.

The highest monthly sales were seen in October 2018 with 6 thousand 276 units. On the other hand, while 30 thousand 849 residences were sold to foreigners in 8 months of the year, the highest January-August figure of all time was reached.


Omer Faruk Akbal, President of the Real Estate Overseas Promotion Association (GIGDER), pointed out that the ever-increasing graph of sales to foreigners is getting closer and closer to reaching this year’s target of 50 thousand units, and drew attention to the purchases of the Americans. Akbal said that Americans rose from 19th to 8th in the purchase of housing from Turkey in August.

Akbal stated that the number of residences purchased by Americans, which was 58 in August last year, increased to 173 this year and tripled. Tamer Ozyurt, Chairman of Ozyurtlar Holding, said, “The Turkish real estate sector has always been a business that attracts investment primarily. Foreign investors see Turkey as a safe haven.”


Istanbul Builders’ Association (IDER) Chairman of the Board Nazmi Durbakalim stated that Germany and the USA were in the top 10 and that they started to hear the footsteps of the west in house sales to foreigners.

Expressing that they expect at least 15 thousand sales to be made in the last 4 months of the year, Durbakalim said, “We will break a new historical sales record by exceeding the peak of 45 thousand 483 units in 2019.”


On the other hand, 141 thousand 400 residences were sold throughout Turkey in August. While the highest monthly sales figure of this year was reached, the number of houses sold in August increased by 31.19% compared to July, and decreased by 17% compared to the same month of the previous year.

Mortgaged house sales in August decreased by 64% compared to the same month of the previous year and became 27,375. Mortgage sales increased by 33% compared to July and the share of the total was 19.4%.

Source: Sabah / Translated by Irem Yildiz

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