"Striking Change in Foreign Investors' Housing Preferences"

The period from January to October 2023 has significantly changed foreign investors' preferences for real estate purchases in Turkey. Statistics reveal that property purchases have decreased in many popular locations such as Istanbul, Antalya, Mersin, Sakarya, Yalova, Aydın, and Bursa. During the same period, however, Ankara and Muğla have seen an increase in foreign investor interest, resulting in a 16.2% rise in property sales.

According to TÜİK data, a total of 1,293,033 properties were sold in Turkey during the January-October period. This figure was recorded at only 1,112,374 in the same period of 2022. Thus, sales of properties among foreign buyers have shown a significant increase compared to previous years, contributing to the overall rise in property sales.

The decline in the real estate market in Istanbul can be interpreted as a result of various factors. High housing prices and increasing living costs may have redirected foreign buyers' preferences to different cities. On the other hand, the rise in Ankara and Muğla seems closely related to the more attractive prices and quality of living conditions in these regions.

Especially Ankara is on the radar of both domestic and foreign investors due to the increase in new projects and housing developments. Real estate investments in the capital continue to attract interest from investors due to the ability to offer larger spaces at more affordable prices. Muğla, on the other hand, stands out for its tourism appeal and ranks high on the list of foreign buyers for vacation home purchases.

Considering all these data, it becomes clear that the dynamics of Turkey's real estate market are variable, and analyses of investors' needs need to be continuously updated. Turkey, offering new opportunities for foreign buyers every day, may define a new trajectory for its real estate market with these changes in the upcoming periods.