While housing sales to foreigners in Turkey are falling, record increase in that province!

In Antalya, which continues to receive immigration from the two countries due to the war between Russia and Ukraine, especially the housing investment of Russians continues to increase. While housing sales to foreigners in Turkey fell by 24 percent in the first 3 months of the year, they increased by 21 percent in Antalya. The sale of 38 out of every 100 houses to foreigners took place in Antalya. The foreigners with the most sales were Russians. Antalya, one of the important centers of the world in tourism, is one of the preferred provinces for settled life for the citizens of CIS and European countries, especially Russia and Germany. According to the data of the first 3 months of this year, Antalya, where the most housing sales have been made to foreigners after many years, continues to receive immigration from these two countries for settled life purposes with the effect of the Russia-Ukraine war that started in February of last year.

DECREASED IN TURKEY, RECORD INCREASE IN ANTALYA

According to the data of the Turkish Statistical Institute at the end of March, housing sales to foreigners across Turkey in the three-month period of 2023 decreased by 24 percent compared to the same period last year and became 10 thousand 926. In Istanbul, which was the province with the most housing sales in the previous years, total sales were 3 thousand 603 with a 40 percent decrease in the first 3 months. While there was a decline both in Turkey and in Istanbul and in many of the other provinces preferred by foreigners for housing purchase, a total of 4 thousand 177 houses were sold to foreigners in the first 3 months of this year in Antalya. While there was a record increase of 21 percent compared to the same period last year, Antalya had 38 percent of the total housing sales to foreigners in Turkey with this number.

1 OUT OF 2.8 HOUSES WERE BOUGHT BY RUSSIANS

According to the data from 2015 to date, Iraqi, Iranian, Saudi Arabian and Kuwaiti citizens were the foreigners who bought the most housing in Turkey, while the Russians, who came in 4th or 5th place, rose to the first place in 2022, when the war began. As of the end of March 2023, the Russians are again in the first place. In 2022, 68 thousand 210 houses were sold to foreigners in Turkey, while Russians bought a total of 16 thousand 312 houses. Antalya was the province where Russians who bought 1 out of every 4 houses last year preferred the most housing. In the first 3-month period of this year, Russians bought 3 thousand 915 out of a total of 10 thousand 926 houses. Compared to the same period last year, there was a record increase of 155 percent in the rate of housing purchases of Russians this year.

Russians bought 1 out of every 2.8 houses sold to foreigners in the first 3 months of this year in Turkey. Russians, who accounted for 35.8 percent of total sales this year, more than doubled the lead to the second closest country in the ranking, both last year and in the first 3 months of this year. 

21 PERCENT INCREASE EVEN IN THE STAGNANT PERIOD

Pointing out that Antalya, which generally had a 20 percent share in housing sales to foreigners in the previous years, has almost doubled this rate, Helmann Yapı Chairman of the Board of Directors Selman Özgün, a member of the Real Estate Investors Association (GYODER), said, "While Russian and Ukrainian citizens are leading the way, we see significant investor inflows, especially from western countries. Interest in almost all of Antalya's coastal cities is high, this interest is not limited to the beach. We can say that there is a demand for all districts of the city. Of course, this demand is concentrated in Konyaaltı, Alanya, Serik, Muratpaşa and Kemer districts. Even in a period when the tourism season is not high, earthquakes are experienced and international flights are decreasing, we see that the sale of foreign housing in Antalya has increased by 21 percent." 

DEMAND GROWTH EXPECTED TO CONTINUE

Stating that factors such as the opening of the tourism season, the increase in international flights and the arrival of expats will increase housing sales in the coming period, Selman Özgün said that the continuity in the demand of Russian and Ukrainian citizens will continue. Özgün stated that the fact that Russians started to be the citizens of the country that bought the most housing from Turkey after the war, and that Antalya was the province where the most sales were made to foreigners in Turkey, showed that Antalya was the most preferred province of Russians in Turkey.

SIGNS ARE IN RUSSIAN, RUSSIAN LICENSE PLATES IN TRAFFIC

Selman Özgün said, "For example, in neighborhoods such as Hurma, Liman and Sarısu, where the citizens of this country live intensively, the Russian language is used in many workplace signs. In these regions, the density of citizens of this country draws attention to the number of vehicles with Russian and Ukrainian license plates on the beach, on the street, in many workplaces such as shopping centers, markets, restaurants and in public transportation, traffic. While housing sales to foreigners decreased in other provinces, the increase in Antalya shows the high interest of international investors in our city."