Turkey's House Sales Surge 38.8 Pct In April As Foreign Buyers Inflowing

Fahad Shabbir (@FahadShabbir) Published May 18, 2022 | 03:30 PM

ANKARA, (UrduPoint / Pakistan Point News - 18th May, 2022 ) --:The number of houses sold in Turkey surged 38.8 percent year-on-year in April, while the sales to foreign buyers jumped 58 percent annually, according to the official data released on Tuesday.

A total of 133,058 housing units were sold in April, and the number of mortgaged sales increased by 83 percent from a year ago to 17,514, accounting for 24.1 percent of all residential property sales in April, the Turkish Statistical Institute reported.

The sales to foreigners rose by 58.

1 percent to 6,447 units in April, while Russians topped the foreign buyers' list with 1,152 houses. Iranians and Iraqis bought 905 and 714 houses respectively, data showed.

In April, the share of sales to foreigners in total house sales was 4.8 percent. From January to April, residential property sales to foreigners increased by 49 percent to 20,791 units.

Since 2017, the Turkish government has allowed foreigners who invest a particular amount of money in Turkey's real estate sector to obtain Turkish citizenship.