Turkey real estate market in August 2024

Russian citizens lead in the number of home purchases among foreigners, long-term interest remains stable. Istanbul overtook Antalya in the number of sales.

• In Istanbul as a whole, prices for new buildings increased by 6.7% in dollars compared to the same period last year. Although in some central districts (Beyoğlu, Kığıthan) there was a decrease. In Bodrum, villa prices decreased by 11%.

• Housing sales to foreign buyers decreased - by 26% compared to August last year, amounting to 2271 objects. The leading positions in real estate sales among the regions are occupied by Antalya, Istanbul and Mersin.

• Istanbul is now in first place in the number of sales for foreigners - 838 deals were concluded here. Antalya was leading for 4 months and now it is in second place with 696 deals. In Mersin 174 deals were concluded.

Russian citizens are still the most active buyers among foreigners. In August they purchased 381 objects - this is 48% less than in August last year. In the long term, the interest of Russians remains stable, before the pandemic and in the first half of 2021 they purchased 200-400 objects per month.

The next in the number of purchases are citizens of Iran, Ukraine, Germany and Iraq.