The 2022 real estate ownership statistics in Turkey provide valuable insights derived from data and percentages published by reliable statistical agencies in Turkey. At Skyline Real Estate, we've analyzed these statistics to offer a comprehensive study on property ownership trends in Turkey and their future prospects.

Numbers are the most truthful language to express the strength of investment or commercial sectors, especially in real estate. Thus, this article and the detailed information it contains will be very beneficial for you.

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Release of Turkey's 2022 Property Ownership Statistics

The National Institute of Statistics in Turkey has published an official report on property ownership in Turkey, highlighting several important insights:

Total Number of Properties Sold in Turkey

A total of 1,485,622 properties were sold in Turkey in 2022, averaging 4,070 properties sold per day.

Newly Sold Properties

The statistics indicate that 460,079 properties were sold for the first time in Turkey, accounting for 31% of total property sales, while the remaining 69% were resales of used properties.

Properties Purchased Through Mortgages

A total of 280,320 properties were purchased via bank loans, representing 18.9% of total property sales. The remaining 81.1% were bought outright without borrowing. This percentage is the lowest reliance on bank loans for property purchases in Turkey, compared to 19.7% in the previous year and 38.2% in 2020.

Property Ownership by Gender

The report also highlights that women purchased 484,654 homes in Turkey in 2022, making up 32.6% of total property sales, while men purchased 821,132 properties, accounting for 55.3%. The remaining 1.6%, or 24,193 properties, were jointly owned by men and women.

Foreign Ownership in Turkey 2022

2022 was one of the years with the highest number of property purchases by foreigners, with 67,490 properties bought by foreigners, accounting for 4.5% of total property sales. This is the highest percentage of foreign ownership in Turkey to date. Detailed insights on this topic will be discussed further in the report.

Foreign Ownership of Turkish Properties Over the Years

Our editorial team at Skyline Real Estate reviewed the statistics on foreign property ownership in Turkey from 2013 to 2022 and recorded the following results:

Property sales to foreigners increased by 15.2% last year, while the overall property sales in Turkey saw a slight decrease of approximately 0.4%.

Top Turkish Cities Preferred by Foreigners

Detailed information about the best cities for property ownership in Turkey by foreigners can be obtained by examining the number of properties sold to foreigners in these cities, as shown in the following table representing the top 10 Turkish provinces for foreign property ownership in 2022:

Key Observations:

1. Istanbul and Antalya are the top two cities for foreign property ownership in Turkey, representing about 70% of total foreign property purchases last year. The remaining 30% is spread across the other 80 provinces.
2. There is a notable increase in property sales to Russians in Antalya, attributed to the rising number of Russians buying properties in Turkey last year. This will be discussed further in an independent section of this report.
3. A noticeable decline in property ownership was observed in Trabzon and Mugla, while there was a significant increase in Mersin and Bursa.

Most Common Nationalities Buying Properties in Turkey 2022

Continuing our report on property ownership in Turkey, we present the data on the top 20 nationalities buying properties in Turkey last year:

Key Insights:

1. The Russian-Ukrainian war influenced property purchases in Turkey by Russians and Ukrainians, with Russians ranking first and Ukrainians sixth. Businesspeople from both countries sought a safe haven for their funds through real estate ownership.
2. Similarly, sanctions on Iran prompted Iranian businessmen and wealthy individuals to view Turkey as a safe investment destination.
3. Among Arabs, Iraqis, Kuwaitis, Yemenis, Palestinians, Egyptians, and Saudis were the top nationalities purchasing properties in Turkey.
4. Improved Saudi-Turkish relations positively impacted property ownership among Saudis.

Future of Foreign Property Ownership in Turkey 2023

Real estate remains a crucial investment sector for foreigners. Some predictions for property ownership in Turkey in 2023 include:

• Russians and Iranians are expected to continue their increasing property purchases in Turkey.
• Improved Turkish-Gulf relations will likely lead to more property purchases by Bahrainis and Emiratis, alongside Saudis.
• Gradual improvement in Turkish-Egyptian relations will encourage more Egyptian investments in Turkish real estate.
• Yemeni and Palestinian communities are expected to continue their significant interest in property ownership in Turkey.
• Arabs with European and American nationalities, particularly Germans, Swedes, Americans, and Canadians, play a key role in increasing property ownership in Turkey.
• Political and social stability in Turkey, especially with upcoming presidential and parliamentary elections in summer 2023, is a major draw for real estate investments.
• Rising property prices and returns on real estate investments in Turkey are significant attractions for investors, optimistic about the previous year's growth.
• The impending announcement of the new Istanbul Canal and the subsequent urban boom in the Yenişehir Istanbul area surrounding the canal will further boost foreign property investments in Turkey.

The importance of property ownership in Turkey is best understood through statistics, as this report demonstrates. Real estate investment in Turkey continues to attract foreigners looking to grow their wealth and increase their profits. Turkey remains an ideal investment destination year after year.

At Skyline Holding, we are always ready to offer our services to Arabs and foreigners in Turkey, particularly businesspeople and investors.

Source: National Institute of Statistics in Turkey