Foreigners in February bought 4 591 objects in Turkey.
According to Oldypak Capital LP real estate 2022 report, residential property sales in Turkey jumped 20% year-on-year in February 2022, amid a continued increase in transactions with foreign buyers. The figure followed a year-on-year increase of 25.1 percent in January and 113.7 percent in December.
A total of 97,587 homes and apartments were sold in February. That’s up from the previous month, but less than half of the extremely high level in December 2021.
Foreigners. Home sales to foreigners in Turkey in February rose 54.9% year on year to 4,591 properties, with Iranians (711 units), Iraqis (633) and Russians (509) buying the most homes.
The lion’s share of sales to foreigners came in Istanbul (1,958 units). It is followed by Antalya (1,099) and Ankara (288).
During the first two months of 2022, home sales to foreigners in Turkey jumped by 55.5% on an annualized basis and amounted to 8,843 units.
Context. Real estate sales in Turkey have accelerated amid a depreciation of the Turkish lira as authorities implement a new economic policy of low interest rates to stimulate lending, exports and investment.
This is important! Recall that Turkey is not on the list of countries unfriendly to Russia. This means that the Russians can buy property in Turkey, as before, without obtaining prior permission from a special government commission.