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Foreigners buy a third of houses in Antalya

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Foreigners buy a third of houses in Antalya

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One out of every three houses sold in the resort town of Antalya was bought by foreigners in October, according to the data of the Turkish Statistical Institute (TÜİK).

While the number of residences purchased by foreigners in Turkey in October was nearly 5,400, more than 2,000 of the 6,233 residences sold in Antalya and more than 1,600 of the nearly 17,000 residences sold in Istanbul were purchased by foreigners.

According to the data, the share of house sales to foreigners in total was 5.2 percent in October. Antalya, which took first place in house sales to foreigners, was followed by Istanbul and the southern province of Mersin with 490 house sales, respectively.

In October, Russian citizens bought more than 2,000 residences from Turkey. Russian citizens were followed by Iranians with 498 houses, Iraqis with 310 houses and Ukrainians with 216 houses, respectively.

Between January and October, house sales to foreigners increased by 27 percent compared to the same period of the previous year and exceeded 55,000, 21,200 of which were in Istanbul and 16,800 in Antalya.

Experts say that demand from foreigners is pushing up rents as well but that the pace of increase in rents are slowing.

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