real estate market in Turkey is recovering after a slight decline due to the coronavirus pandemic. In the first eight months of 2021, foreigners bought a record number of homes in Turkey.
According to the Turkish Statistical Institute, 30,849 houses and apartments were sold in Turkey from January to August, up 47.6 percent compared to the same period last year. Turkey is expected to sell another 15,000 houses and apartments in the remaining four months of the year.
The highest figure was recorded in August, when foreigners bought 5,866 units, up 50.7 percent from last year. Moreover, this is a record number of transactions since October 2018 (6,276). A brief disruption in sales came only in May, when the Turkish government imposed tough measures due to rising coronavirus cases. As early as next month, the measures were lifted.
Russians are among the top three most active
buyers of real estate in Turkey. The most numerous are Iraqis (4,631 transactions), followed by Iranians (4,600) and Russians (2,575). Most often, foreigners buy
housing in Istanbul (14,788 apartments in eight months) and Antalya (5,897).
