In November,
Sales of apartments and houses in Turkey to foreigners grew by 48.4 percent year on year. This is a record for the entire history of observations of the Turkish Statistical Institute.
The main reason for the record growth of
housing sales in Turkey was the fall in the value of the local lira against the dollar, which made the purchase of local real estate more profitable for foreign buyers who pay in US currency. On December 13, the Turkish currency depreciated against the dollar to an all-time low of 14.99.
Traditionally,
apartments in Turkey investors from Iran and Iraq are buying, followed by buyers from Russia. The most popular cities for foreigners are Istanbul, Antalya and Ankara.
Over the past month, foreigners purchased 7,363 housing units in Turkey. This is a record high since 2013.
