Russians continued to lead the housing investments of foreigners in Türkiye in the January-May period, while Saudi Arabian citizens rose to 11th place in the list they entered after a long time.
Based on data compiled by Anadolu Agency (AA ) from the Turkish Statistical Institute's (TurkStat) housing sales statistics, it was observed that international investors' demand for housing in Türkiye experienced a decline in the January-May period compared to the same period in 2022. Nevertheless, certain countries continued to showcase noteworthy engagement.
Over the course of the first five months, the number of properties purchased by foreigners in Türkiye decreased by 38%, amounting to 16,779 units.
During this period, the southern Mediterranean province of Antalya emerged as the province with the highest number of homes sold, reaching a total of 6,446 units, closely followed by Istanbul with 5,329 units.
Since the initiation of the Russia-Ukraine war, Antalya has successfully surpassed Istanbul and claimed the top position on the list. It has maintained its leadership in this sector throughout the remaining months of the year.
In the first five months, a total of 1,231 residences were sold to foreigners in southern Mersin province, followed by 504 in the capital Ankara, 443 in northwestern Bursa, 427 in northwestern Yalova, 373 in western Izmir, 283 in southwestern Muğla, and 240 and 208 in northwestern provinces of Kocaeli and Sakarya.
Muğla, which did not make it to the top 10 last year, secured the eighth position during the January-May period.
The Russians emerged as the leading investors in housing, with the number of residences sold to Russian citizens reaching 5,723, reflecting an increase of 44.4%.
Ukrainian citizens continued their housing investments, acquiring a total of 770 units. Notably, they advanced from sixth place last year to fourth place in the first five months of this year.
During this period, Iranians purchased 2,324 residences, Iraqis acquired 809, Kazakhs bought 605, German citizens invested in 564, Kuwaitis acquired 373, Chinese citizens purchased 364, Azerbaijani citizens bought 336, and there were 297 purchases made by U.S. passport holders.
Saudi Arabia, which consistently ranked among the top four countries whose citizens purchased housing in Türkiye in previous years, experienced a significant decline in 2020, dropping to the 17th position due to strained relations between the two nations.
Furthermore, Saudi Arabia was not included in the list in 2021.
However, following reconciliation between the countries, Saudi citizens regained their position in 2022 and managed to climb to the 16th spot by year-end.
Notably, Saudi housing investments in Türkiye have persisted during the January-May period as well.
In the first five months, the number of residences purchased in Türkiye by individuals holding a Saudi Arabian passport witnessed an increase of 79.4%, reaching 296 units. Subsequently, the Saudis, who reentered the list after a substantial hiatus, ascended to the 11th position for the remainder of the year.
