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The Turkish Real Estate Sector continues its incredible rise during the first half of 2022

The Turkish Real Estate Sector continues its incredible rise during the first half of 2022

Despite the fluctuations that the Turkish economy is exposed to and in spite of the losses caused by the Corona pandemic, the Turkish Real Estate Sector continues its incredible rise during the first half of 2022.

The Real Estate Sector continues to thrive despite challenges

The Real Estate Sector in Turkey is one of the most prominent pillars of the Turkish economy, and evidence of this is that the percentage of real estate sales in Turkey set a new record during the first six months of this year.

  • January 2022 – Turkey sold a total of 88,306 properties during this month, of which foreigners’ share amounted to 4,186 properties, an increase of 56.5% compared to the same month last year.

 

  • February 2022 – Turkey recorded sales of 97,587 properties, foreigners alone bought 4,591 units, an increase of 54.9% compared to February 2021.

 

  • March 2022 – Turkish real estate sales increased significantly this month, recording 134,170 properties in various Turkish regions and states, of which 5567 were foreigners, with an increase of 31%.

 

  • April 2022 – During April, Turkish real estate sales amounted to 133,058 properties, while foreigners registered the purchase of 6,447 properties, an increase of 58.1% compared to the same month in 2021.

 

  • May 2022 – Real estate sales this month amounted to 122,768 properties, of which foreigners bought 5,962 properties, with a huge increase of 235.7%.

 

  • June 2022 – This month broke a record in total Turkish real estate sales, surpassing all previous months of 2022 by selling 150,509 properties, of which the share of foreigners amounted to 8,630 properties, an increase of 81.8% over the same month of the previous year.

Total Turkish Real Estate Sales during the first six months of 2022

The Turkish Statistics Authority revealed that the country sold 726,398 properties, an increase of 31.4% over the same period in 2021.

Foreigners alone bought 35,383 properties in the first half of 2022, an increase of 72.7% compared to the first half of 2021.

Top 3 Nationalities buying Turkish Real Estate in 2022

The Russians topped the list with a total purchase of 1,887 properties in Turkey, followed by the Iranians, who bought 987 housing units, and the Iraqis in the third place, with 807 units during the current year so far.

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