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June 25, 2024

May 2024: Sharp Increase in Real Estate Sales

According to the Turkish Statistical Institute (TÜIK), 110,588 properties were sold in Turkey in May 2024, with foreign investors accounting for 1.9% of these transactions.

46% Increase: There was a 46% increase in real estate transactions compared to April 2024. This surge is attributed to the country resuming active business activities after a quiet April, which was partly due to holidays and elections.

Top City: Istanbul led in sales, with the average price per square meter reaching 47,000 lira (approximately 1450 USD).

Foreign Buyers: Antalya topped the list for foreign investor transactions, with 797 out of 2064 deals. The demand remains high in coastal areas due to the hot summer, attracting both foreign and domestic buyers. Istanbul and Mersin follow Antalya in popularity among foreign investors.

Active Buyers: The most active buyers were from Russia, Ukraine, Germany, Kazakhstan, Saudi Arabia, the USA, and the UK.

 

What will happen to the market next, and which events affect demand and prices? Find out in the full version of the Astons report on the Turkish real estate market.

While the season has just started, investors have a wide selection of resort properties. However, interesting offers will be harder to find in the summer months. Therefore, we suggest exploring this collection of resort complexes in Antalya, Bodrum, and Alanya right now.

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