Imtilak Properties

Data from the Turkish Statistical Institute recently show that Turkey is witnessing a recent boom in real estate sector in all the country.

The figures show that 140,298 apartments were sold throughout Turkey in September of 2017, and this month saw a 16.7 percent increase in sales compared to the same month last year, "The number of apartments sold throughout Turkey has reached a total of 1, 308 and 728 apartments in general. Foreign investors have 15,241 apartments in this figure, and the number of foreigners has reached 15.37% compared to last year.

According to figures released by the Turkish Statistical Institute, Istanbul ranked first among Turkish cities with 23,471 apartments, followed by Izmir with 13,945 apartments.

Last month was one of the most popular months for foreign investors in Turkey, where the percentage of apartments sold to foreigners increased to 75.2 percent compared with the same month last year. The year 2017 saw an increase of 15.37 percent. Consequently, the expected record for the foreigners has been broken which is 15000 apartments.

Istanbul also was the first to sell to foreign investors. In September alone, 797 apartments were sold to foreigners, followed by Antalya, Aydin, and Trabzon, while Iraqi nationals ranked first in terms of buying property Turkey with 383 apartments, Saudi Arabia came second with 344 apartments, Kuwait third with 160 apartments, and Russia and England with 129 and 103 apartments, respectively.

It is expected that the number of million properties will be sold next year, and there are strong indications that sales will rise significantly above this figure.