Turkey’s real estate sales to foreigners down in 1H17

Trend | July 25, 2017- In 1H17, 97,579 real estate properties were sold to foreigners in Turkey, which is 8.1 percent less compared to the same period of 2016, says a report of the Turkish Statistical Institute.

Istanbul ranks first and Ankara ranks second in real estate sales to foreigners. Foreigners purchased 17,970 properties (18.4 percent of total sales) in Istanbul and 10,160 properties (10.4 percent of total sales) in Ankara in 1H17, according to the report.

The Turkish city of Izmir ranks third – foreigners bought 6,034 real estate properties (6.2 percent of total sales) in the city in 1H17.

Citizens of Iraq, Saudi Arabia and Kuwait bought 1,645, 1,517 and 798 properties, respectively, in Turkey in the reporting period.

Azerbaijani citizens bought 333 properties in Turkey in 1H17, said the report.