Turkey’s property sales to foreigners soar 65% in July 2017

Property sales to foreigners in Turkey soared 65.3% in July compared to the same period in 2016, as domestic sales also saw a huge increase, official data has shown.

A total of 1,726 properties were sold to foreigners in July, with Iraqis being the top buyers, data from the Turkish Statistical Institute (TÜİK) showed on Aug. 24.  

The figures showed that Iraqis topped the list with 293 properties, followed by Saudis with 248 units, Kuwaitis with 142, Russians with 118 and Britons with 76.

Nearly 31% (or 528 units) of the total sales to foreigners were in Istanbul, the country’s largest city by population.  

The Mediterranean resort of Antalya came second with 386 properties, while the Black Sea province of Trabzon came third with 121 units.

The number of residential properties sold in Turkey also advanced by a 42.3 year-on-year increase in July, according to TÜİK data.