In February 2024, Russian citizens overtook Iranians, Iraqis and Ukrainians in terms of transactions in the country
In February 2024, Russians bought 395 residential properties in Turkey, once again surpassing all other foreign home buyers in this country in terms of the number of transactions. This is reported in a report on the website of the Turkish Bureau of Statistics (TURKSTAT).
Iranians took the second place among foreign buyers (200 deals). Iraqis were in third position (112), and Ukrainians were in fourth place. The fifth place in the rating was taken by the Germans, who purchased 91 objects, the report says.
In total, according to TURKSTAT, 1,846 residential properties in Turkey were sold to foreigners in February 2024. This is 44.9% less than in February 2023 (3,350), the study says.
Russians have become the leader among foreign buyers in terms of the number of real estate transactions in Turkey since 2022. Despite the reduction in the number of transactions compared to 2022 (16.3 thousand lots), in 2023 the Russians again took the first place – 10.56 thousand lots. In 2021, Russian citizens were only in third place (5,37 thousand lots).
In October 2023, Turkey tightened the requirements for obtaining a residence permit when buying real estate. The minimum amount required for this has been increased from $50-70 thousand to $200 thousand. According to experts, such restrictions and a sharp increase in the price of housing in Turkey will lead to a reduction in the interest of Russians in real estate in this country.
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