Foreign Property Sales Broke a Record in 2022

Turkish Statistical Institute (TÜİK) published the property sales statistics for 2022. According to the data, 1 million 485 thousand 622 real estate for sale in Turkey was sold and foreigner record sales have reached 67.490 properties in 2022.

The share of property purchases by foreigners reached 4.5% of the total sales. The number of sales of Turkish property for sale to foreigners in Turkey increased by 15.2% in 2022 compared to the previous year.

In Turkey, 1 million 485 thousand 622 houses were sold in 2022. TURKSTAT announced both December and 2022 property statistics today. Real estate sales decreased by 8.2% in December compared to the same month of the previous year with 207.963 sales.

Istanbul had the highest share in house sales by 17.5%. 259.654 houses in Istanbul were sold in 2022. According to the number of sales, Istanbul was followed by Ankara with 126.166 properties and İzmir with 83.502 sales.

3 of Every 4 Houses Sold are from Istanbul, Antalya, and Mersin

Turkey has become an increasingly popular investment and relocation destination for foreign real estate investors.

This wonderful country stands out with its natural beauty, historical background, service quality, and good living conditions. This year, Turkey has attracted more attention from foreign investors than before, as we can see in the data published by Turkish Statistical Institute.

The number of residences purchased by foreigners increased by 15.2% when compared to the previous year and its share occupies 4.5% of total sales in 2022. The sale of foreign property reached 67.490 last year.

In 2022, Istanbul ranked first with 24. 953 house sales and followed by Antalya with the sales of 21.860 houses and Mersin with the sales of 4.316 houses. The share of these 3 cities in total sales to foreigners was 75.7%.

Russia Breaks a Record and Saudi Arabia is in the Top 20 Again

Turkey offers an all-year-round holiday-like lifestyle to Russian visitors with beautiful beaches, good weather, low-cost quality living, and delicious cuisine. Other than being a popular holiday destination for Russian tourists, advanced trade and economic relations between Turkey and Russia make Turkey an attractive investment option for Russian property buyers.

In 2021, Russian citizens bought 5.379 residences from Turkey, while in 2022 citizens of the Russian Federation broke a record by purchasing 16.312 residences. There was a 203.2% increase in Turkish real estate purchases made by Russian nationals.

Russian investors were followed by Iranians with 8.223, Iraqis with 6.241, Germans with 2.705, and Kazakhs with 2.702. Saudi Arabian investors were not listed among the top 20 list in 2021 but became the 16th country with the highest real estate investment in Turkey in 2022 with the purchase of 1090 houses.

Turkey: Plan B Country

The perception of plan B emerged with the Covid-19 pandemic and became even stronger after the disagreement between Ukraine and Russia. The energy crisis was triggered by this conflict, and some socioeconomic and political crises occurred in some countries. In this context, people started to look for an optional secondary place to live their lives comfortably.

Turkey is a perfect Plan B country with its extensive investment opportunities, affordable energy prices, low cost of living, vibrant lifestyle, delicious cuisine, and cultural diversity. On the other hand, living in Turkey also has become one of the best options for digital immigrants who adopted the remote-working model.

Another data that shows high interest in Turkey is the number of tourists visiting the country in 2022. Turkey hosted more than 42 million foreign visitors in the 11 months of 2022.

According to the January-November 2022 data announced in December by the Ministry of Culture and Tourism, 42 million 164 thousand 954 foreigners visited Turkey. The statistics show an increase of 84.77% compared to the same period of the previous year.

Germany ranked first with 5 million 481 thousand 385 visitors, Russian Federation followed it with 4 million 945 thousand 198 visitors, and England ranked third with 3 million 301 thousand 112 visitors.

Merve Tuncer

AUTHORMerve TuncerAssistant Brand Manager

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