In this blog, we will take a comprehensive look at real estate sales statistics in Turkey during the first six months of 2023 and we will analyse the numbers and show the major trends and changes in the Turkish real estate market during this specific time period and we will learn about the number of properties sold, the main areas of focus for sales, and the types of properties that are most in demand in the market, and we will also provide an analysis of the reasons for this growth or decline in real estate sales and the factors affecting the real estate market in Turkey.
The reasons for the high rate of real estate purchase in Turkey:
A comprehensive look at Turkey real estate sales in March 2023:
A statement was issued by the Turkish Statistical Authority, disclosing the total real estate sales in Turkey during the month of March and the first quarter of this year
According to official figures, it was found that the total real estate sales in Turkey in March 2023 decreased by 21.4% compared to the same month in 2021, when 105,476 properties were sold and Istanbul topped the list of Turkish states in real estate sales during the past month, as 18,166 properties were sold, which constitutes 17.2% of the total real estate sales in the country and Ankara came in second place with 12,023 properties sold and a 11.4% share, followed by Antalya in third place with 6,120 properties and a 5.8% share
as for the lowest states in real estate sales during the month of March, Ardahan recorded 23 properties, followed by Hakkari with 54 properties, and Papyrus ranked third with 69 properties sold.
Turkey real estate sales increase in 2023:
Mortgaged real estate sales in Turkey during the previous month of March recorded a number of 25,262 properties, which represents 24% of the total real estate sales in the country and during the first quarter of this year, 58,822 mortgaged properties were sold in Turkey.
As for other real estate sales, they witnessed a decline of 22.8% in March compared to the same month last year, reaching 80,000 properties, which constitutes 76% of the total real estate sales and in the first quarter of this year, 224,393 properties of this type were sold.
As for direct real estate sales, they reached 32,899 properties last March, and reached 83,907 properties in the first quarter of 2023.
With regard to sales of used properties, they reached 72,000 properties in March, which represents 68.8% of the total sales and in the first quarter of this year, sales of 199,308 used properties were recorded.
Türkiye real estate sales in the first quarter of this year:
3,415 properties were purchased by foreigners in March 2023 and Antalya ranked first among the Turkish states in the number of properties sold to foreigners during this month, with 1,324 properties sold there and it was followed by Istanbul with 1,090 properties, then Mersin with 240 properties.
As for Turkish real estate sales to foreigners in the first quarter of 2023, they reached 10,926 properties in various Turkish states, including Istanbul, Antalya, Ankara, Bodrum and Bursa.
Learn about the nationalities that invest the most in Turkish real estate in March 2023
In March 2023, Russia topped the list of foreign nationalities that own the most real estate in Turkey, as Russians own 1,175 properties and Iran came in second place with 472 properties, followed by Iraq with 165 properties and Ukraine owns 160 properties, while Kazakhstan owns 121 properties and among other nationalities, German citizens own 112 properties, Kuwaitis 81 properties, Saudis 73 properties, Azerbaijanis 69 properties, and Britons 65 properties and the Americans own 62 properties, while the Chinese own 56 properties and Afghanistan owns 51 properties, Pakistan 45 properties, Egypt 41 properties, and Canada 37 properties and the Palestinians own 36 real estate, Lebanon 33 real estate, Jordan 33 real estate, and the Netherlands 31 real estate.
What are the most owned foreign nationalities in the first quarter of 2023?
In the first quarter of this year, Russia topped the list of foreign nationalities that own the most real estate in Turkey, as Russians own 3,915 properties and Iran came in second place with 1,444 properties, followed by Iraq with 567 properties and Ukraine owns 459 properties, while Kazakhstan owns 409 properties and among other nationalities, German citizens own 362 properties, Kuwaitis 267 properties, Chinese 249 properties, Azerbaijani 207 properties, and Saudis 196 properties.
These figures show the high demand for real estate investment in Turkey by investors and buyers of different nationalities, and the data indicates that Turkey is still a preferred destination for real estate investment, thanks to its active market and the rewarding return opportunities it offers.
The reasons for the high rate of real estate sales in Turkey:
Turkey's economy is witnessing strong growth and relative stability, which enhances confidence in the real estate market and attracts investors.
Large inflows of foreign investments play an important role in the high rate of real estate purchases in Turkey and where the real estate market attracts investors from all over the world thanks to the high return opportunities and the appropriate economic environment.
Turkey has taken legislative measures to facilitate real estate purchases for foreigners, such as eliminating the need for military permits and simplifying administrative procedures and this makes it an attractive destination for foreign investors.
The real estate market in Turkey offers opportunities to get good returns through renting or increasing the value of the property over time and this makes it an attractive option for investors seeking a good financial return.
The real estate market in Turkey offers opportunities to get good returns through renting or increasing the value of the property over time and this makes it an attractive option for investors seeking a good financial return.
Turkey's political stability is important in attracting investors and increasing the rate of real estate purchases and the stability of the country and the absence of major political changes gives investors confidence in investing in real estate for the long term.
Turkey offers programs to obtain citizenship or long-term residency through the purchase of real estate and these programs attract investors seeking additional benefits, such as free travel and access to the European market and Turkey's large investments in infrastructure, such as roads, airports and public facilities, make it an attractive destination for living and investment
The high employment rate in Turkey leads to an increase in the income and purchasing power of citizens, which increases the demand for real estate, whether for housing or investment.
Technological development in the real estate sector in Turkey enhances access to more accurate and easier information in purchasing processes, which makes the market more transparent and attractive to investors.
Common questions:
What is the total number of properties sold in Turkey during the first six months of 2023?
245,634 properties were sold in Turkey during the first six months of 2023.
Has there been an increase or decrease in the number of real estate sales in Turkey compared to the same period of the previous year?
An 8.2% decrease in the number of real estate sales was recorded in Turkey during the first six months of 2023 compared to the same period of the previous year.
How many properties were sold to foreigners during the first six months of 2023?
11,032 properties were sold to foreigners in Turkey during the first six months of 2023.
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