Analysts identified the provinces in Turkey where foreigners had bought the highest amount of real estate from January to June. These are the capital cities of the different regions. They are more likely to maintain their leadership position by the end of the year — the odds of this are definitely in their favour.
The number of housing units sold to foreign citizens in January-May 2024 dropped by 45.8% totalling 9,024 units. There was a decrease of 2,032 units or -34.8% in May compared to the same period last year. The biggest decrease occurred in the resort areas and Istanbul in less than six months.
When it comes to the origins of buyers, the majority of houses and apartments in Turkey were bought by individuals from Russia, who have consistently held the top spot in this ranking for over two years. Russians have bought 2,091 housing units within a span of 5 months. Iranians make up 914, Ukrainians total 623, Iraqis come in at 433, Germans account for 406, Kazakhs are 402, and Azerbaijanis are 288 in numbers. The United States (215 homes) and Saudi Arabia (205) round out the TOP 10.
Currently, we will provide sales figures, while also sharing intriguing details about each specific location.
Per the Turkish Statistical Institute, the top 10 provinces in terms of the highest number of residential properties sold to foreign citizens are as follows:
Content:
- Top spot goes to Antalya
- Istanbul ranks second
- The third position is held by Mersin
- Ankara is in fourth place
- Yalova occupies the fifth place
- Bursa ranks sixth
- Izmir is ranked in the seventh position
- Ranking in eighth position is Kocaeli
- Aydın is in the ninth position
- Trabzon occupies the tenth place
Top spot goes to Antalya
It is the uncontested front runner in the overseas customer market. A total of 3,275 housing units were sold between January and May 2024 accounting for over 30% of the entire sales volume. During the same timeframe last year, there were 6,446 lots for comparison.
Antalya, the tourist hub of Turkey, is a bustling city and the focal point for Russians in the region. Numerous resorts in the province include Antalya, Alanya (popular with both locals and international buyers), Kemer, Belek and Side. Sales in Antalya and Alanya would see a significant increase if there were not as many restricted areas where it is impossible to get a residence permit through property ownership (TAPU). Individuals have the opportunity to apply for citizenship after 5 years, unless unforeseen circumstances arise. There are numerous outdoor spaces in both Alanya and Antalya; it is slightly more convenient for a TAPU residence permit in Kemer and Manavgat (Side is part of Manavgat).
The province’s advantages include:
- Transport accessibility. There are two international airports here — Antalya and Alanya. Buses provide convenient transportation from these cities to various other locations in Turkey. Frequently, they travel to strong intercity bus stations in both Antalya and Alanya.
- A long bathing season: people prefer to visit these places from March to December.
- Alanya is also one of the most earthquake–proof cities in Turkey: there are tremors in this location, but they are insignificant.
Istanbul ranks second
Foreigners bought almost the same number of homes in Istanbul, ranked second, as in Antalya province: 3,128 units. There were 5,329 of them in the same 5 months of 2023 for comparison.
Istanbul is the top performer in property sales throughout Turkey considering transactions with domestic buyers. It goes by every year. It is the biggest city in the country, a popular destination for tourists, a major financial hub and a top shopping spot with one of Europe's largest airports. There are two airports as well: the recently built airport on the European side and the traditional Sabiha Gökçen on the Asian side.
Istanbul is a great place to live because housing is continuously rented out due to high demand allowing the city to thrive every day of the year and around the clock, unlike resort areas. There are a huge number of tourists here, including project workers, college and university students — both paid and free institutes and universities. Opting for an apartment close to metro stations or other transportation hubs, such as the Istanbul Canal, can result in a 30% increase in housing prices once the road route is completed due to the city's rapidly developing transport infrastructure. In addition, the housing market in this area is continuously increasing in value and remains highly sought-after.
The third position is held by Mersin
Mersin achieved a bronze medal in sales by selling 826 items in 5 months, while foreigners bought 1,231 properties in the same time frame last year.
Mersin has emerged as a surprise contender recently, and it is clear that the province is experiencing a surge in progress. The price of housing in the area was quite affordable several years back — around $30,000, but now these apartments in development projects in Turkey are put up for sale at a price of $70,000 and above.
This coastal city is situated relatively close to Antalya province (6 hours away by bus) and enjoys a similar mild weather. The development is mainly happening because of the Akkuyu NPP project, with numerous specialists coming here since construction began. Nevertheless, despite the absence of a nuclear power plant, numerous foreigners have come to admire Mersin recently, thanks to its sizeable city, stunning waterfront spanning over 15 km and the option to catch a ferry to Northern Cyprus, which is also a bonus. A major benefit is that the regions where obtaining a residence permit is possible are the most attractive for purchasing a home (unlike places with lower demand, such as Alanya). Real estate prices in Mersin are rising rapidly, so we suggest taking advantage of this opportunity.
Ankara is in fourth place
Foreign nationals purchased 221 apartments or houses in Turkey, in particular, in Ankara this year, from January to May (compared to 504 last year).
Ankara serves as the political and economic hub of Turkey, as it is the country’s capital. Additionally, it serves as a centre for reputable colleges and a sought-after location for medical tourism. There are numerous regions to get a residence permit. Meanwhile, local residential units are more affordable than in Istanbul except for luxury properties in various development projects in Turkey.
Yalova occupies the fifth place
Yalova has caught the interest of more foreigners this year in comparison to numerous other regions, with a total of 210 housing units being sold. There were a total of 427 units in the period of January to May last year.
Yalova, situated close to Istanbul in the country’s northwestern part, has a milder weather than in other provinces. The population is small, with around 200,000 individuals. Nevertheless, the area is highly favoured by residents, as this place is home to the renowned spa resort featuring thermal waters (Thermal municipality). It is close to Istanbul, you could easily travel there for work daily, and the Marmara Sea is nearby as the province is adjacent to the coast. A group of developers brought focus to Yalova, as this place attracts numerous tourists.
Bursa ranks sixth
Once again, TÜIK reported that foreigners purchased 207 residential lots in Bursa in 2024. During the equivalent timeframe in the previous year, there were a total of 443 items.
Bursa, the province's capital, is among the biggest megacities in Turkey. There is no access to the sea, but there is an airport. The esteemed and well-known Nilufer neighbourhood, which has been the subject of numerous articles on the Turk Estate portal, is situated in this area.
Izmir is ranked in the seventh position
Foreigners bought 158 properties from January to May, down from 373 during the same period last year.
Izmir consistently ranks among the top 3 cities in Turkey for total number of transactions coming in after Istanbul and Ankara.
It is the third-biggest city in Turkey and serves as a port while also functioning as a popular holiday destination. There are limited chances for swimming and sunbathing within the city, but nearby resort towns like Didim, Çeşme and Alaçatı have been seeing significant increases in housing prices for years. The area is renowned for its numerous skyscrapers and lucrative commercial properties like stores, workplaces and storage facilities. This is intended for individuals looking to invest in assets other than just housing such as villas for sale in Turkey.
Ranking in eighth position is Kocaeli
150 properties were purchased in the first 5 months of this year (compared to 240 in 2023).
Kocaeli is famous for being an industrial province. Although it is not coastal, this area near Istanbul is favoured by affluent Turks to settle here.
Aydın is in the ninth position
Foreigners purchased 134 housing units. 203 housing units were sold in January-May last year.
Aydın is a spacious province that lies along the coast of the sea. Aydın includes a large port city and the resort of Kuşadası making it a popular destination for summer tourism and holidays. When it comes to the flight, you have the option of arriving either via Izmir airport or through Bodrum Airport (Milas). The weather in this area is less severe than in the Antalya coast (Aegean Sea) making it more pleasant in Kuşadası during the hottest months. As Kuşadası is a bustling port city, life remains active throughout the year, not just during the summer. Therefore, rental properties in off-plan projects in Turkey are consistently sought-after in the real estate market.
Trabzon occupies the tenth place
Overseas buyers made 121 transactions in the first 5 months of the year. The number was 207 for the same period last year.
Trabzon is the sole representative from the Black Sea coast in the TOP 10 ranking. It is a spacious and intriguing region with a gorgeous scen. There are fewer tourists in this area, which many people see it as a benefit.
Trabzon, the main city in the province, is a thriving urban centre and one of the most ancient trading and port towns in Turkey along the Black Sea. As this region is not in high demand among immigrants, obtaining a residence permit is easier, and the cost of living is lower. Real estate is available as well allowing you to purchase a larger property in Turkey for the same price as in Istanbul, Izmir and Ankara.