15.3 C
Frankfurt am Main

Russians were top foreign buyers of houses in Turkey in 2022

Must read

Turkish home sales to foreigners rose by 15.2 percent in 2022 compared to the previous year, data from the Turkish Statistical Institute (TurkStat) showed on Tuesday, with Russians the top foreign buyers of Turkish homes, the Birgün daily reported.

Although Turkey sold 1,485,622 houses in 2022, which corresponds to a decrease of 0.4 percent over 2021, house sales to foreigners increased by 15.2 percent in the same period.

A total of 67,490 houses in Turkey were sold to foreigners last year, making up 4.5 percent of all home sales, with Russian nationals buying 16,312 houses. They were followed by Iranians (8,223) and Iraqis (6,241).

According to TurkStat, İstanbul ranked first with 24,953 sales to foreigners in 2022. Antalya was the second province with 21,860 sales and was followed by Mersin with 4,316 sales.

Wealthy Russians are pouring money into real estate in Turkey and the United Arab Emirates, seeking a financial haven following Moscow’s invasion of Ukraine and Western sanctions, real estate brokers say.

Liked it? Take a second to support Turkish Minute on Patreon!
Become a patron at Patreon!
More News
Latest News