By DailySabah News
The Turkish property market enjoyed a buoyant year in sales to foreigners last year, breaking all-time monthly records, particularly in the last quarter. Legislative amendments that eased citizenship with investment limits for foreigners, campaigns launched by real estate developers and banks and spiking foreign currency brought an annual record – a 78.4 percent increase in 2018 compared to the previous year. According to Turkish Statistical Institute (TurkStat) data released yesterday, 39,663 properties were sold to foreign investors last year – the highest number ever. In 2017, foreigners bought 22,234 units.
In the first quarter last year, 5,298 housing units were sold to foreigners, rising to 6,158 in the second quarter. Foreigners bought 12,339 and 15,508 in the third and fourth quarters, respectively.
Housing sales decreased by 2.4 percent in 2018 compared to the previous year, falling to 1.37 million units.
Istanbul was the top choice for foreigners as 14,270 properties were sold in Turkey’s largest city last year, followed by Antalya where foreigners bought 7,938 housing units, then Bursa with 2,720 units, followed by Ankara and Yalova with 2,133 and 2,063, respectively
