According to the Turkish Statistical Institute (Turkstat), in 2024, home sales to foreigners decreased by 32.1% compared to 2023, totaling 23,781 transactions. However, in December, sales to foreigners rose sharply compared to December 2023 — 17.2% more properties were sold, totaling 2,418 houses and apartments.
In overall sales, the share of foreign buyers accounted for 1.6%.
Top 3 buyers by the number of transactions:
Russians — 4,867
Iranians — 2,166
Ukrainians — 1,631
Top 3 provinces by the number of transactions:
Istanbul — 8,416
Antalya (including Alanya) — 8,223
Mersin — 2,112
Overall, in 2024, residential sales increased by 20.6%, reaching 1.48 million units. Most properties were sold in Istanbul (239,213), Ankara (134,046), and Izmir (80,398).
In December 2024, 212,637 homes were sold across Türkiye, which is 53.4% more than in December 2023.
Real Estate Profitability in Türkiye
According to Global Property Guide data for Q1 2024, Türkiye ranked 6th in the top 10 European countries with the highest rental yield:
Latvia – 8.06%
Ireland – 7.85%
Italy – 7.38%
Romania – 6.63%
Lithuania – 6.44%
Türkiye – 6.36%
United Kingdom – 6.21%
Spain – 6.17%
North Macedonia – 6.00%
Montenegro – 5.95%
Istanbul ranks second in the top 10 European cities with the highest rental yield:
Dublin, Ireland – 7.33%
Istanbul, Türkiye – 6.63%
Riga, Latvia – 6.46%
Bucharest, Romania – 6.36%
Podgorica, Montenegro – 5.7%
Lisbon, Portugal – 5.65%
London, UK – 5.59%
Brussels, Belgium – 5.54%
Warsaw, Poland – 5.51%
Vilnius, Lithuania – 5.47%
What’s Happening With Real Estate Prices in Türkiye
The Central Bank of Türkiye provided data on real estate price index (RPPI) changes for December 2024. The housing price index increased by 2.0% monthly and by 29.4% annually. Considering inflation, the indicator decreased by 10.4% compared to December 2023. The peak in housing sales in Türkiye usually occurs in December, while the slowdown happens in June.
The RPPI index reflects qualitative changes in property prices and shows the market condition across the country.
By region, growth was 2.1% in Istanbul, 2.0% in Ankara, and 0.4% in Izmir. Annual growth was 26.3% in Istanbul, 34.4% in Ankara, and 25.2% in Izmir.
The data highlight the high demand in the market, confirmed by sales statistics. In 2024, housing, commercial real estate, and land plot sales reached a record 3.07 million units, 3.9% more than in 2023.
For the state budget, transaction-related taxes and fees amounted to 96.13 billion liras ($2.7 billion), 60% more than in 2023.
As reported by former Turkish Interior Minister Süleyman Soylu, the Citizenship by Investment Program (CIP), active since 2017, attracted 40,000 applications and $15 billion to Türkiye’s budget. Citizenship can be obtained by purchasing real estate with a cadastral value of at least $400,000. Our catalog offers the best apartments and villas for Turkish citizenship in Alanya and Istanbul. Write to the online chat on the website to get a consultation.