Foreign real estate investors flock to coastal cities in Turkey

Published 24.02.2018 00:00
Updated 24.02.2018 01:37

Foreigners prefer coastal cities for residential purchases in Turkey. In the last five years, the number of residences sold to foreigners reached 29,513 in Istanbul, 27,221 in Antalya, 5,622 in Bursa, 5,710 in Aydın and 4,375 in Yalova.

According to information compiled from Turkish Statistical Institute (TurkStat) data, the number of houses foreigners purchased in the last five years reached 94,393 in Turkey. In this period, the largest number of foreign residential sales was in 2015 with 22,830. The number of foreign residential sales reached 12,181 in 2013, 18,959 in 2014, 18,189 in 2016 and 22,234 in 2017.

Foreigners most frequently chose coastal locations for their residential purchases in Turkey. In terms of provinces, Antalya led the way in foreign residential sales in 2013 and 2014, while Istanbul took the lead in the following years.

In the last five years, Istanbul ranked first in foreign residential sales with 29,513, while Antalya came second with 27,221. These provinces were respectively followed by Bursa with 5,622, Aydın with 5,107, Yalova with 4,375, Muğla with 4,200, Mersin with 3,225, Sakarya with 2,875, Trabzon with 2,791 and Ankara with 2,583 houses.

Foreign interest continued to increase this year as well. In Turkey, the number of houses sold to foreigners in January 2018 reached 1,742 with an increase of 25.7 percent compared to the same month last year. In this period, Istanbul led the way with 545 residential sales, followed by Antalya with 427, Bursa with 161, Yalova with 90 and Trabzon with 82.

Antalya, which came second in residential sales, experienced an increase of 62 percent last month in foreign residential sales on an annual basis.

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