According to data from the Turkish Statistical Institute (TÜİK), 1,293,033 homes were sold across the country in the first 10 months of 2024. In the same period last year, this figure was 1,112,374. Thus, there was a 16.2 percent increase in home sales on an annual basis.
However, despite the increase in total sales, residential property purchases by foreigners declined. Sales to foreigners decreased by 11.3% compared to the same period last year, falling from 19,212 to 17,500.
The Biggest Drop in Bursa
Significant declines in foreign sales by province were noted. In Antalya, the number of sales, which was 6,740 in the same period last year, fell by 15.9% to 5,666 in 2024. In Istanbul, the number of homes purchased by foreigners declined by 6.5%, from 6,703 to 6,266.
Sales to foreigners in Mersin fell by 20.1% to 1,352, while Sakarya saw a 4.1% decline, Yalova 16%, Aydın 14.8%, and Bursa 30.1%. With this decline rate, Bursa was the province with the sharpest drop in foreign sales.
Foreign Sales Increased in Ankara and Muğla
Despite this general downward trend, two cities saw an increase. In Ankara, residential property sales to foreigners rose by 24.9% to 621 in the January–October period. In Muğla, sales increased by 8% to 323 during the same period.
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