Market dynamics and price growth – Regular author’s report by Astons

June statistics: trend towards stabilization and resort regions

According to the Turkish Statistical Institute (TÜIK), 79,313 properties were sold in Turkiye in June 2024. Foreign investors accounted for 1.8% of these transactions, totaling 1,440 sales. Antalya became the most popular province for foreign investors (593 sales), surpassing Istanbul (478) in June. Mersin rounded out the top three with 116 sales.

Across the country, Istanbul had the most transactions, but international buyers favored resort properties, making the Antalya coast and Mersin Gulf top destinations. Russians remained the most active foreign buyers in the Turkish real estate market with 332 transactions, followed by citizens of Ukraine, Iran, Germany, Kazakhstan, Saudi Arabia, the USA, and China.In June, property sales in Turkiye decreased by 5.2%. Experts attribute this to the end of mortgage programs and high loan interest rates: transactions involving credit dropped by 49% compared to 2023. Nevertheless, in the long term, the Turkish real estate market is expected to grow, reaching $99.05 billion by the end of 2024 and $168.11 billion by 2029.