Real Estate Sales Are Rising in Turkey: Russian Buyers Lead the Way

July 2023 saw a 16 percent increase in property sales in Turkey over the same month the previous year. In Turkey, Istanbul continues to be the most sought-after location for real estate purchases.

Turkey's July 2023 Property and House Sale Statistics

In July 2023, Turkish property purchases totaled 109.548, as reported by TUIK statistics. This indicates a 16.7% increase in sales of real estate and houses when compared to the same month the previous year. The data indicates that there is still a lot of demand for Turkish real estate.

Istanbul, the nation's largest financial hub, has managed to maintain its renown. In terms of real estate purchases, Istanbul comes in first. Istanbul completes 15.724 real estate transactions in July.

In July, Istanbul accounted for 14.4 percent of the total sales. Istanbul's sales figure is followed by that of Ankara (9.688) and İzmir (5.203). Ankara, the capital, and Izmir, a western gem, rose to the ranks of second and third in popularity among investors in real estate.

Russia is the main driver of Turkey's July real estate sales boom.

In July, the Russian Federation ranked first among foreign buyers of Turkish real estate and houses. In July 2023, 772 properties in Turkey were purchased by Russians. Following them are Iraqis (204 purchases), Ukrainians (146 purchases), and Iranians (204 purchases).

The data indicates that investors have a strong demand for Turkish real estate. Turkey is a great choice because of its affordable prices, excellent construction quality, and profitable return rates. Investors from abroad and locally are drawn to Istanbul, which is the centre of attention.

There are lots of places to buy real estate. Istanbul is the most ideal location for real estate investment in Turkey among these options. Buying a new home for yourself or making an investment can allow you to take advantage of all that Istanbul has to offer.

Istanbul serves as a gateway to the world and provides rich amenities, a wide variety of real estate options, and lucrative investment opportunities. The time is ripe to make investments in the world's centre, Istanbul.