House sales to foreigners double, domestic sales slump in Turkey

ANKARA - Anadolu Agency

Property sales to foreigners in Turkey more than doubled on an annual basis in November, the Turkish Statistical Institute (TÜİK) announced on Dec. 20.

Some 89,626 houses were sold in Turkey, marking a 27 percent yearly decrease, according to TÜİK.

Foreigners bought 4,672 properties in the month, up 117.1 percent year-on-year.

Istanbul, Turkey’s largest city by population, was the top location with 1,922 sales in November to foreigners, followed by the resort city of Antalya (797) and the northwestern province of Bursa (301).

The largest share of house sales went to Iraqis, with 463 units in the month, followed by Iranians with 463, Afghans and Russians with 261, and Saudis with 233.

In the first 11 months of this year, some 1.24 million houses changed hands, while some 1.28 million houses were sold in January-November 2017.