According to the Central Bank (CBRT) data, the net income from real estate sales to foreigners broke a record of 1 billion 144 million dollars in June 2022.
In the first half of 2022, total revenue from the sale of real estate to foreigners was recorded at US dollars 3 billion 485 million, the second highest after US dollars 3 billion 651 million recorded in the second half of 2018.
The depreciation in TL and the practice of granting citizenship to foreigners in exchange for the purchase of real estate have increased the purchase of real estate by foreigners in Turkey, also causing an upward impact on prices in the country.
Although it is known that foreign demand has increased real estate prices in Turkey, making it difficult for Turkish citizens to access housing, the government continues to encourage foreign purchases.
SALES TO FOREIGNERS BREAK RECORD IN JUNE
According to TURKSTAT data, housing sales to foreigners increased by 81.8 per cent in June compared to the same month of the previous year and broke a record with 8 thousand 630 units. In June, the share of housing sales made to foreigners in total housing sales was 5.7 per cent. Istanbul took first place in housing sales to foreigners with the sale of 3 thousand 906 houses.
Antalya followed Istanbul by selling 2 thousand 534 houses and Mersin with 428 homes.
In the January-June period, housing sales to foreigners increased by 72.7 per cent compared to the same period of the previous year and amounted to 35 thousand 383.
FOREIGN SHARE 31.5 PERCENT IN ANTALYA
On June, 8 thousand 45 homes were sold in Antalya, while foreigners bought 2 thousand 534. The share of foreigners in total housing sales in Antalya reached 31.5 per cent in June.
On the other hand, 27 thousand 998 houses were sold in Istanbul in June, and 3 thousand 906 of them were bought by foreigners. In June, the foreign share in housing sales in Istanbul was 14 per cent.