Property sales to foreigners soar in Turkey but domestic demand falls
Istanbul was the top province for sales to foreigners, with 1,321 sales in October. It was followed by the Mediterranean province of Antalya with 465 units and the northwestern province of Bursa with 121 units and Yalova with 108 units. The Aegean province of Aydın followed them with 93 property sales.
Saudis were followed by Iraqis with 344 units, Azerbaijanis with 278 units, Kuwaitis with 154 units and Russians with 125 units, TÜİK data showed.
The lowest number of properties were sold in the eastern provinces of Hakkari with just eight units, Ardahan with 15 units, and Şırnak with 38 units.
In October, mortgaged property sales throughout Turkey fell to 38,593, a drop of 19.8 percent compared to the same month of last year. Mortgaged property sales therefore had a 31.4 percent share of all property sales in the country, according to TÜİK.