ANTALYA PROPERTY IS AT THE TOP FOR HOUSING SALES TO FOREIGNERS

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Revised November, 2022 – Resource, Turkey iResidence
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ANTALYA IS AT THE TOP FOR THE FIRST TIME IN THE SALE OF HOUSING TO FOREIGNERS

The city where the most housing sales were made to foreigners was Antalya in July 2022. Thus, Antalya passed Istanbul for the first time in the sale of housing to foreigners.

According to the 2022 July housing sales statistics of the Turkish Statistical Institute (TURKSTAT), Antalya became the province where the most houses were sold to foreigners for the first time.

According to data, 93 thousand 902 houses were sold in July throughout Turkey. January-July housing sales to foreigners, on the other hand, increased by 57.4 percent compared to the same period of the previous year and amounted to 39 thousand 322.

Turkey housing sales to foreigners decreased by 12.4 percent in July compared to the same month of the previous year and became 3 thousand 939. In July, the share of housing sales made to foreigners in total housing sales was 4.2 percent.

In July 2022, most citizens of the Russian Federation received housing from Turkey. the citizens of Russia, who received 1028 houses, were followed by the citizens of Iran with 431 houses and Iraq with 380 houses, respectively.

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ANTALYA IS ON TOP

Antalya took the first place in housing sales to foreigners with the sale of 1421 housing units. Antalya was followed by Istanbul with the sale of 1154 houses and Mersin with the sale of 289 houses, respectively. Thus, Antalya 2022 has passed Istanbul for the first time in July.

While 4 thousand 643 houses were sold in Antalya in July, the share of sales to foreigners in this city was 30.6 percent. Last month, this rate had risen to 31.5 percent. Thus, it was seen that approximately one out of every three houses sold in Antalya was sold to a foreigner.

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POST-WAR INTEREST ACCELERATED

In addition to the interest in real estate of citizens of countries such as Iran and Iraq, with the beginning of the Ukrainian-Russian war in February of this year, the Turkish house purchases of these Russians and Ukrainians in Turkey accelerated.

The city that Russians are interested in for real estate in Turkey was Antalya. However, the acceleration of housing sales to foreigners has had an upward effect on the prices of houses for sale and rental in this city.

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TURKISH PROPERTY PRICES ARE RISING

According to the housing price index data for May published by the Central Bank recently, it was stated that the annual price increases in the Antalya-Burdur-Isparta region were 180 percent.

According to Turkey iClassified data, which provides real estate valuation services, the annual increase in housing prices in Antalya in July is at the level of 238.43 percent.

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THE INCREASE IN CITIZENSHIP HAD COME

Finally, the granting of citizenship to foreigners through the sale of housing caused controversy, and it was argued that this increased housing prices throughout the country.

After that, with the regulation issued in May, the monetary limit of obtaining the right to Turkish citizenship through the acquisition of real estate in the amount of 250 thousand dollars or equivalent in foreign currency was increased to the amount of 400 thousand dollars or equivalent in foreign currency.

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