Residential property sales up 25.1% in January

Residential property sales increased 25.1% year-on-year in January, according to the Turkish Statistical Institute (TurkStat).

A total of 88,306 houses were sold last month, Turkstat said.

Istanbul had the highest share with 17.1% or 15,110 house sales, followed by Ankara with 9.3%, or 8,255, and Izmir with 6.2%, or 5,486.

Housing sales to foreign buyers also rose during the same period, up 56.5% to 4,186.

4.7% of all house sales in January was made to foreigners, the report underlined.

Istanbul, Turkey’s largest city by population, enjoyed the lion’s share of sales to foreign buyers, with 1,771 units. The Mediterranean holiday resort city of Antalya followed with 914 properties, while the capital Ankara came third with 269.

Among foreign nationals, Iranians bought the most houses – 761, followed by Iraqis with 513 and Russians with 479.

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