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Property Sales Report in Turkey
According to the TUİK (Turkish Statistical Authority), 1 million 485 thousand 622 properties were sold in 2022. Despite a 0.4% decline in overall sales compared to the prior year, foreign sales increased by 15.2% with foreign sales of 67 thousand and 490 apartments in total.
By Nationality, Most Residential Sales Were Made to the Citizens of the Russian Federation in 2022
In 2022, Russian Federation residents purchased 16,312 homes from Turkey. Iranian citizens came in second to the Russian Federation with 8,223 homes, followed by Iraqi citizens with 6,241 residences.
Istanbul Became the Most Preferred City Among Foreigners
While Istanbul ranks first in sales of residences to foreigners with a total of 24.953 properties, Antalya comes second with 21.860 homes and Mersin follows third with 4.316 houses.
The Total Amount of Brand-New Home Purchases Was 77,889 Units
In Turkey, the number of brand new purchases of housing rose by 1.5% in December compared to the same month the previous year, reaching 77 thousand 889. Brand new property purchases accounted for 37.5% of total property sales in December and will account for 31.0% in 2022.
130 Thousand 74 Houses Sold in Second-Hand House Sales
Resale home sales in Turkey fell 13.1% in December compared to the same month the prior year, totaling 130,74. Second-hand home sales decreased 0.5% in 2022 when compared to the same time the prior year, totaling 1 million 25 thousand 543. In December, resale purchases accounted for 62.5% of total home sales, rising to 69.0% in 2022.
Turkish Housing Market Predictions For 2023
Looking ahead to 2023, it is expected that the demand for Turkish real estate among foreign buyers will continue to increase. Turkey's attractive investment climate, competitive property prices, and strategic location make it an ideal destination for foreign investors.
Moreover, the Turkish government's efforts to simplify the buying process and grant citizenship to foreign buyers who purchase property in Turkey are likely to further boost demand in 2023.
In conclusion, the real estate market in Turkey continued to attract foreign buyers in 2022. The Turkish Property Sales Report provides valuable insights into the preferences of foreign buyers, and it is expected that demand for Turkish real estate will remain strong in 2023.
More Information About Buying Property in Turkey
Want to buy a property in Turkey? Or do you have questions about the real estate market in Turkey? Call us directly or text us for free via WhatsApp or Viber at +90 532 341 67 54 to speak to an expert real estate agent today!
Before contacting us, you can also review all properties for sale on our Real Estate in Turkey page.