August proved to be another strong month for Turkey’s residential real estate market, particularly in transactions involving foreign buyers. While the total number of sales dipped slightly compared to July, the figures remain among the highest recorded in 2024.
In July, foreign nationals purchased 2,350 housing units, while in August, they acquired 2,257—just under 100 fewer properties. Despite the slight decline, both months significantly outperformed earlier periods this year, indicating a clear upward trend.
For the 29th consecutive month, Russian citizens topped the list of foreign buyers. Other leading countries included Iran, Iraq, Ukraine, and Germany.
Here is the breakdown of the top 10 nationalities purchasing property in Turkey in August 2024:
Russia – 381 units
Iran – 171 units
Ukraine – 161 units
Germany – 139 units
Iraq – 136 units
Kazakhstan – 98 units
Azerbaijan – 90 units
Kuwait – 75 units
Saudi Arabia – 72 units
United States – 61 units
Beyond residential and commercial property, foreign investors are increasingly purchasing land plots, particularly in regions like Afyonkarahisar, which has become a notable hotspot.