Turkish government data on Tuesday showed that house sales to foreigners increased by 58 per cent in April compared to the same month of 2021, with Russian citizens topping the list.
The increase came amid a weak lira which lost nearly 50 per cent versus the dollar over the past one year and Russia’s invasion of Ukraine.
According to central bank, foreign demand remains high in spite nearly 100 per cent rise in average house prices in February.
In April, 6,447 foreigners bought apartments in Turkey, 1,152 of them owned to Russians, according to Turkish Statistics Institute (TurkStat).
Compared to the previous month, the number of Turkish properties sold to Russians rose over 100 per cent. The increase was 186 per cent year-on-year, according to TurkStat.
Ukrainians separately registered 56 per cent monthly rise in house purchases in April.
Iranian citizens followed with 905 and Iraqis with 714 house purchases in Turkey in April respectively, data showed.
Overall, Turkish house sales rose by 38.8 per cent in April year-on-year, TurkStat said.
Turkish Mediterranean tourism hotspots, including Antalya and Bodrum, recently reported a significant rise in property sales to Russians since the start of the war.
Ankara has not yet made public how many Russians arrived in Turkey since the beginning of the war.
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