Exponential Growth Of Turkish Real Estate Sector In Early 2022

Turkey experiences Exponential Growth Of Real Estate Sector In Early 2022. Despite the fluctuations in Turkish economy and Corona pandemic crisis, the Turkish Real Estate Sector continues its incredible rise during the first half of 2022.

Growth of Turkish Real Estate Sector Despite Challenges

The Real Estate Sector in Turkey comprises a major part of the Turkish economy. The percentage of real estate sales in Turkey set a new record during the first six months of this year.

• January 2022 – Turkey sold a total of 88,125 properties during this month. Foreigners’ share amounted to 4,220 properties, an increase of 56.8% compared to the same month last year.

• February 2022 – Turkey recorded sales of 97,590 properties. Foreigners alone bought 4,596 units, an increase of 54.8% compared to February 2021.

• March 2022 – Turkish real estate sales increased significantly this month. Recording 134,174 properties in various Turkish regions and states, of which 5578 were foreigners, with an increase of 31.5%.

• April 2022 – During April, Turkish real estate sales amounted to 133,102 properties. Foreigners registered the purchase of 6,449 properties, an increase of 58.3% compared to the same month in 2021.

• May 2022 – Real estate sales this month amounted to 122,770 properties, of which foreigners bought 5,968 properties, with a huge increase of 236.7%.

• June 2022 – This month broke a record in total Turkish real estate sales, surpassing all previous months of 2022 by selling 150,514 properties, of which the share of foreigners amounted to 8,634 properties, an increase of 82.8% over the same month of the previous year.

Total Real Estate Sales during the first six months of 2022

The Turkish Statistics Authority revealed that the country sold 726,398 properties, an increase of 31.4% over the same period in 2021.

Foreigners alone bought 35,383 properties in the first half of 2022, an increase of 72.7% compared to the first half of 2021.

Top 3 Nationalities purchasing Real Estate in 2022

The Russians topped the list with a total purchase of 1,887 properties in Turkey. Secondly, Iranians, who bought 987 housing units. Lastly Iraqis in the third place, with 807 units during the current year so far.

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