According to Nevita International, foreigners purchased $3 billion worth of real estate units in the first half of 2019.
19,952 houses have been sold to expats from January to June of 2019. There is a 67 percent increase compared to last year sales in the same period.
Istanbul, the country’ financial capital took the lead in property sales to foreigners with 8,900 units. Istanbul was followed by Antalya, where Alanya is located in, with 4,093 units and the capital Ankara, which sold 1,111 houses to foreigners.
Expats spent $150,000 on average for a house and this generated a total of $3 billion.
Faruk Akbal, the board chair of Nevita International, said “In January, $493 million of revenues were generated while they were $430 million in the following month. In March and April, foreigners poured $547 million and $421 million into the Turkish house market, respectively. Revenues generated from property sales to foreigners, which stood at$530 million, was somewhere between $500 million and $600 million in June,”