The Turkish real estate market demonstrated strong growth in 2023, attracting widespread attention from domestic and foreign investors. According to data from the Turkish Statistical Institute, approximately 200,000 properties were sold in Istanbul alone, accounting for 16.2% of the total sales. Ankara and Izmir followed with approximately 110,000 and 65,000 units sold, accounting for 9.3% and 5.3% respectively.
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Interest from foreigners in the Turkish real estate market is also gradually increasing, with 35,005 properties sold to foreigners in 2023, accounting for 2.9% of total sales. Russia is the largest source of clients in the Turkish real estate market, while major countries such as Germany, the United States, China, and the United Kingdom also maintain steady investment momentum. Although the number of Chinese investors is relatively small compared to other major countries, 661 properties were still purchased by Chinese investors last year, reflecting the continued attention of Chinese investors to the Turkish real estate market.
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The Global Real Estate Price Index for the third quarter of 2023, released by Knight Frank International, shows excellent performance in Turkish property prices, leading the global market for three consecutive years. Istanbul, in particular, as Turkey's economic, cultural, financial, and trade center, ranks among the top in terms of property price growth. This is also due to Istanbul's unique geographical location as a city spanning the continents of Europe and Asia, attracting the attention of numerous investors.
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In Istanbul, the Esenyurt district has become a popular choice for investors, ranking first in property transactions in Istanbul in 2023. Esenyurt boasts convenient transportation, a large population, and high property yields, attracting investor attention. Additionally, Antalya, as the largest city on Turkey's southern coast and the second-largest tourist destination, also demonstrates strong development momentum. Antalya's beautiful natural scenery and rapid economic growth have attracted many global investors.
