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Saudis Compete with Iraqis in the Real Estate Investment in Turkey

Turkish Statistical Institute announced the number of apartments sold to foreigners during October...

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2017-11-27 Last update 2020-02-12

Saudis Compete with Iraqis in the Real Estate Investment in Turkey

Turkish Statistical Institute announced the number of apartments sold to foreigners during October, where statistics showed that sales continued to increase this month, as was the case in September.

A total of 122,882 apartments were sold in Turkey in October to local and foreign investors. Istanbul, Ankara, and Izmir were the best-selling cities for both local and foreign investors, as Istanbul was the number one in terms of sales to foreigners.

October witnessed a sale of 2,677 apartments to foreign investors. This was a total of 2236 apartments in September. October also has seen the largest increase in the percentage of sales to foreign investors in all months of the year. The increase in sales amounted to 70% compared with the same month last year.

It is known that Iraqi investors topped the list of most-owned nationalities in Turkey, but this changed in October, where Saudi nationals issued the list of most purchased foreigners in Turkey, where there was rotation between Iraq and Saudi Arabia in the first place over the months of the year, and sold 528 apartments for Saudis in October, 344 apartments for Iraqis, and 125 apartments for Kuwaitis.

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