Real Estate Sales Surge in Turkey in 2024, Russia Leads Foreign Buyers

The Turkish Statistical Institute announced a significant rise in real estate sales in Turkey during December 2024, reaching 212,637 properties, marking a 53.4% increase compared to the same month last year. Throughout 2024, total real estate sales reached 1,478,025 residential units, reflecting a notable 20.6% growth compared to 2023.

The top-selling cities in real estate were Istanbul with 239,213 units, followed by Ankara with 134,046 units, and Izmir with 80,398 units. The least-selling cities were Ardahan with 755 units, Hakkari with 958 units, and Bayburt with 999 units.

Regarding foreign real estate sales, 2,418 properties were sold to foreigners in December 2024, showing a 17.2% increase compared to the same month last year, with foreigners accounting for 1.1% of total sales.

As for the countries leading real estate purchases in Turkey in 2024, Russia ranked first with 4,867 units sold, followed by Iran with 2,166 units, and Ukraine with 1,631 units. In December alone, Russian citizens purchased 438 properties, followed by Iranians with 239 units, and Ukrainians with 181 units.

Source: Turkey Now