House sales to foreigners up by 11.4 pct in August

Published 25.09.2017 19:16

House sales to foreign buyers rose by 11.4 percent in August, reaching 1,684, compared to the same month the previous year, the Turkish Statistical Institute (TurkStat) said yesterday.

According to the national statistical institute data, the number of residential properties sold in Turkey increased by 4.7 percent year-on-year in August.

Data showed that 120,198 houses changed hands in Turkey during the month. Nearly 31 percent (or 524 units) of the total sales to foreigners were in Istanbul, the country's largest city by population. Following Istanbul, the Mediterranean holiday resort city of Antalya came second with 376 properties, while the Marmara province of Yalova came third with 103 units. Commenting on the August figures, Melih Tavukçuoğlu, head of the Istanbul Anatolian-side Contractors Association, said that 890,430 houses were sold during the first eight months of the year.

Marketing campaigns for large housing projects contributed to the increase in sales, Tavukçuoğlu said, adding the number of houses sold to foreigners in Istanbul rose 20 percent in August compared to the same month last year.

According to TurkStat figures, Iraqis topped the list of buyers with 317 properties, followed by Saudis with 198 units, Kuwaitis 135, Russians 95 and Afghans 81.

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