NEWS Real Estate Sales For Foreigners Increased 129.6% Year-on-year in August 2018

The number of housing sales to foreign citizens in Turkey has maintained its upward trend in August as the figure more than doubled, reaching 3,866, while it increased to 18,540 in the first eight months.

According to the national statistical body announced, Turkey has reaached the number of property sales to foreigners more than double in August year on year. 

The real estate sales to foreigners rose by 129.6 percent to 3,866 as the data of Turkish Statistical Instıtue. Last year this figure had  reached only 1684 in August last year.  

Besides, the number of property sales to foreigners from January to August increased to 18,540 from 13,005 in the same period of 2017.

Istanbul which is the largest city by population, leaded the way among provinces with 1,141 house sales in August, followed by the holiday resort city of Antalya with 675, the northwestern province of Bursa 307, the capital of Ankara with 305 and Yalova with 263.

When looking at the nationality of the buyers, Iraqi citizens entered the top of the list in August. 

Iraqis bought 944 houses in Turkey in the said month, followed by Iran with 394, Saudi Arabia with 275, Kuwait with 271 and Russia with 192 house purchases.

Iraqi citizens also ranked first in the period from January to August with 3,515 houses bought. They were followed by Iran with 1,659, Saudi Arabia with 1,573 and Russians with 1,180 house purchases as the data of Turkish Statistical Instıtue shows.

Last year, foreigners purchased over 22,000 properties in Turkey. Iraqis were again at the top list with 3,805 house purchases, followed by Saudi nationals who purchased 3,345 houses. Kuwaitis, Russians and Afghans bought 1,691, 1,331, and 1,078 houses, in order of. 

Meanwhile, when looking whole real estate sales in Turkey, decreased by 12.5 percent in August year-on-year, standing at 105,154, TurkStat said.

Istanbul again had the largest share of property sales with 14.5 percent and 15,262 houses sold.

"Ankara followed Istanbul with 9,291 house sales and Izmir with 5,064 house sales with the share of 8.8 percent and 4.8 percent, respectively," said TurkStat.

Moreover, the numbers of mortgaged house sales throughout Turkey stood at 12,743 a reduction of 67.1 percent compared to the same month in the previous year.

"House sales with mortgages had a 12.1 percent share of all house sales in Turkey," the institute said.

First house sales reached 49,362, a 12.6 percent decrease year-on-year. First house sales had a 46.9 percent share of all house sales in Turkey, the data by the national statistical body showed.

On the other hand, secondhand house sales in Turkey decreased by 12.4 percent in August year-on-year to 55,792.

Last year, overall residential property sales amounted to 1.4 million in Turkey with a 5.1 percent annual hike from 2016.

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