Massive Marathon for Buying a Real Estate at the End of 2017

December 2017 marked a significant end in the Turkish real estate sector, with sales rising to 6.8 % from the last month..

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2018-01-30 Last update 2020-05-15

Massive Marathon for Buying a Real Estate at the End of 2017

December 2017 marked a significant end in the Turkish real estate sector, with sales rising to 6.8 % from the last month, and the number of properties sold throughout the country reached 132,972 properties.

Istanbul, the commercial capital of Turkey, topped the list with 22,932 properties sold in just one month, and 17.8 percent in the past month, which raised the average rate of increase across Turkey; Ankara came in second place, where 12,868 properties were sold.

The year 2017 witnessed an increase in the percentage of sales to foreigners reaching 22.2 % compared to the previous period.

December as well saw an increase in sales to foreigners as well. The number of properties sold during this period reached 2164 properties; Istanbul topped the list of the most selling foreign cities by 802 properties, Antalya ranked second with 378 properties, Bursa was the third with 188 properties, and Yalova the fourth with 141 properties.

Iraqis occupied the top in the number of properties purchased during 2017, with 3,080 properties, and Saudis came second with 3 thousand and 345 properties.

The months of the year saw competition between Iraqi and Saudi investors, where the Saudis outnumbered the Iraqis in some months of the year, while the Kuwaiti came third with 1691 properties, the Russians fourth with 1331 properties, and Afghans fifth with a thousand and 78 properties.

In December, Iraqis bought 418 apartments throughout Turkey, while the Saudis owned 271 properties, the Kuwaitis 151 properties and the Russians 129 properties.

Source: Gayrimenkul haber

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