Interest in real estate in Turkey: what did the sales figures show for October?

New residential complexes in Istanbul

New residential complexes in Istanbul offer various options for buyers. One of the residences is located in an old district and features 686 apartments starting at $644,000, complete with pools and green areas. Another complex, set to be ready in 2025, offers 1,050 apartments starting at $184,000 and is situated in a quiet green area. The third residential complex, which includes 689 apartments starting at $305,000, aims to attract foreign investors interested in obtaining residency and citizenship in Turkey. It is expected to be ready for occupancy by 2024. Another complex, scheduled for construction in 2023 with views of a park and close to the financial center, offers 167 apartments starting at $346,000.

The situation with the real estate market in Turkey

According to the data, real estate sales to foreigners in Turkey remain at the same level. In October. the share of sales to foreigners amounted to 2.7% of the total volume, which is less than in the previous month. The leaders in sales remain Antalya, Istanbul and Mersin. Alanya is still not attractive enough for investment compared to other real estate markets. compared to other real estate markets.

Purchase of real estate by foreigners

Russians remain the most active real estate buyers in Turkey. In October, they purchased 713 properties, which is 31% more than last year.

Sales of Turkish real estate decreased by 8.7% in October.Compared to the same month last year, there were 93,761 properties. In October, 29,230 properties were sold in new developments. They accounted for 31.2% of the total number of properties sold that month and demonstrated a continuing increase in investor interest in new developments when choosing real estate.

The share of sales to foreigners remains at an average level.this year. They accounted for 2.7% of all real estate sales in October. Housing sales to foreigners in September amounted to 2,535 properties, down 13.5% from last month and 52.8% from October last year.

Investment opportunities in Istanbul:

• New apartments at a great price in an elite residential complex, Uskudar, Istanbul, Turkey. Completion date: 2025.
• Modern residence with swimming pools and gardens near metro station, Istanbul, Turkey. Completion date: 2024.
• New spacious apartments in a popular area with developed infrastructure, Istanbul, Turkey. Built in 2023.
• New residence with pools and gardens near the highway and metro station, Istanbul, Turkey. Completion date: 2026.
• A new residence with swimming pools and green areas located near developed infrastructure, in one of the oldest and largest districts of Istanbul, Turkey. Built in 2024.

Traditionally, this area had the highest share of real estate sales — 15.9% (14.9 thousand properties). The average cost per square meter in dollars increased by 27% compared to 2022, and by 77% and 114% compared to 2021 and 2019, respectively.

Customer Information:

• Russians continue to lead among foreigners who have purchased real estate in Turkey.
• Interest in Turkish real estate has increased among citizens of Iran and Germany.
• Turkey ranked third among the most popular countries for real estate purchases by Kazakhs in 2023.

Thus, the real estate market in Turkey remains promising for investors and foreign buyers, especially in the Istanbul region, which maintains its appeal and high demand.