by Dream Shell Real Estate 
Housing sales to foreigners increased by 26.9 percent in the first 10 months of 2022 compared to the same period of the previous year. In Antalya, one out of every three houses sold was bought by foreigners.
Turkish Statistical Institute announced the Housing Sales Statistics for the period of October 2022. While house sales in Turkey decreased by 25.3 percent in October compared to the same month of the previous year, 102 thousand 660 houses were sold to foreigners, while a total of 5 thousand 377 houses were sold in October.
According to statistics, house sales to foreigners decreased by 8.8 percent in October compared to the same month of the previous year and became 5 thousand 377. While the share of house sales to foreigners in total house sales at the beginning of the year was 4.7 percent, this rate increased to 5.2 percent in October.
INCREASED 26.9 PERCENT IN 2022
Housing sales to foreigners increased by 26.9 percent in the January-October period compared to the same period of the previous year and reached 55 thousand 21. Antalya took the first place in the housing sales to foreigners in October with the sales of 2 thousand 123 houses. Antalya was followed by Istanbul with 1658 house sales and Mersin with 490 house sales, respectively.
In October, most Russians bought housing. While the citizens of the Russian Federation ranked first with 2 thousand 23 houses among the foreigners who bought a house, this country was followed by Iran with 498 houses, Iraq with 310 houses, Ukraine with 216 houses and Germany with 211 houses.
ONE OF 3 HOUSES IS FOR FOREIGN
According to the compilation of Sozcu.com.tr from TUIK data, 2 thousand 123 of the 6 thousand 323 houses sold in Antalya were sold to foreigners. In other words, the share of sales to foreigners in total sales was 33.57 percent. In other words, one out of every three houses sold in Antalya was bought by foreigners.
The Russians, who bought 479 houses in January and 509 in February this year, increased their housing purchases from Turkey after the start of the Ukraine war on February 24.
The figure rose from 547 in March to 1152 in April, 1275 in May, and 1887 in June. This figure, which was 1028 in July, 1238 in August and 1196 in September, broke the record with 2023 in October.
INCREASES HOUSING PRICES
The explosion in foreign demand for housing also increased prices sharply. This situation was also reflected in the October Housing Sale Market Outlook report of Bahçeşehir University Center for Economic and Social Research (BETAM).
The provinces with the fastest increase in square meter prices of residences for sale were Mersin with 231.2 percent, Antalya with 223.5 percent and Istanbul with 218.1 percent. Thus, the housing price increase in Antalya surpassed the increase in Istanbul.
The average housing price in Antalya, which was 5 thousand 480 TL in October last year, became 17 thousand 727 this year. In other words, the average price of a 100-meter house was 1 million 727 thousand TL.
CITIZENSHIP TO 400 THOUSAND DOLLARS
With the regulation made in the past years, foreigners were allowed to acquire Turkish citizenship by purchasing housing above a certain value. In June, the real estate value to be taken in the application for Turkish citizenship was increased from 250 thousand dollars to 400 thousand dollars.
While the depreciation of TL and the practice of granting citizenship to foreigners in exchange for real estate purchases increase the real estate purchases of foreigners in Turkey, they also affect the price increases in Turkey.
Although it is known that foreign demand increases real estate prices in Turkey and this situation makes it difficult for Turkish citizens to access housing, the government continues to encourage foreign purchases.
credit: https://www.sozcu.com.tr/2022/emlak/antalyada-satilan-her-uc-konuttan-birini-yabancilar-aldi-7482423/
