House sales to foreigners in Türkiye were at their lowest level in nine years in 2025, with the share of foreign buyers in total sales dropping to a mere 1.3%, according to a report on Thursday.
In 2025, some 21,534 homes were sold to foreign nationals, a report by Anadolu Agency (AA) said, citing official data released earlier this week.
According to data compiled from housing sales statistics for 2025 announced by the Turkish Statistical Institute (TurkStat), home purchases by international investors, which had increased following the Reciprocity Law, enacted in mid-2012, and peaked at 67,490 units in 2022, have been declining for the past three years.
This comes despite an overall boom in residential sales, which continued to rise even in the face of tighter monetary conditions and approached 1.7 million units in 2025, marking the highest on record.
Sales to foreigners, however, fell 9.4% compared to 2024. This marked the lowest figure in the last nine years, the Anadolu Agency (AA) report said. Housing sales in this segment peaked in December last year with 2,541 units, while the lowest sales occurred in April with 1,440 units.
The share of home sales to foreigners in total transactions fell to 1.3% in 2025 – the lowest level since the Reciprocity Law came into full effect in 2013. The highest level was seen in 2022 at 4.5%.
Among international investors, Russian citizens topped the list with 3,649 home purchases. They were followed by Iranians with 1,878, Ukrainians with 1,541, Germans with 1,376 and Iraqis with 1,292. Citizens from Azerbaijan, Kazakhstan, China, Saudi Arabia and Afghanistan also made it into the Top 10.
In terms of cities where foreigners bought the most homes, Istanbul led with 7,989 units, accounting for 37% of total sales. It was followed by Antalya with 7,118, Mersin with 1,800, Ankara with 769 and Yalova with 461. Bursa, Izmir, Muğla, Sakarya and Trabzon completed the Top 10 list.
Bayram Tekçe, chairperson of the board of the Real Estate Service Exporters’ Association (GIGDER), noted in a statement to AA that home sales to foreigners have been declining for three years, citing increasing property prices in recent years and the slowdown in residence permit processes as key reasons.
Tekçe pointed out that the return on property investment in some areas of Türkiye has stretched to 30 years in recent years. "Due to the loss of our price advantage, international real estate investors are turning to alternative countries such as Dubai, Spain and Greece, where return periods are shorter," he said.
Emphasizing the need to provide residence permits before citizenship to attract international investors, Tekçe argued, "Only 15% of investors who buy property in foreign countries seek citizenship; 85% prefer golden visa programs."
"With a program like the golden visa, we should make it easier for investors to enter and exit the country, open bank accounts and obtain (utility) subscriptions," he opined.
"Programs like silver and golden visas should be established to simplify property acquisition and official transactions," he added.
According to Mustafa Kemal Şahin, president of the Association of Real Estate Marketing and Sales Professionals (GAPAS), raising the minimum citizenship threshold to $400,000 and the lengthened investment return period were among the contributors to the decline in sales.
Şahin emphasized that foreign investors should be seen not just as "homebuyers" but as "capital-bringing partners."
"Regional and product-based incentives should be introduced. The property acquisition processes for foreign investors should be managed centrally, and procedures related to land registry, taxes and residence (permits) should be simplified," he suggested.
