Kazakhstan ranks sixth among foreign property buyers in Türkiye

Kazakhstan ranks sixth among foreign property buyers in Türkiye
Collage credit: Kazinform, Midjourney

2,064 real estate properties were bought by foreign nationals in Türkiye in May 2024. Kazakhstan's residents bought 95 real estate assets, placing the country sixth among international buyers, according to a report from the Kazinform News Agency citing Turkstat.

Foreign buyers accounted for 1.9% of total transactions in May, a 34.8% decrease from the same month the previous year. The provinces with the highest number of foreign buyers were Mersin (164 properties), Istanbul (668 properties), and Antalya (797 properties).

The citizens of Russia (437 objects), Iran (207 objects), and Ukraine (171 objects) accounted for the highest number of sales. Kazakhstan rose to the sixth position in the Top 10.

In May, 110,588 residences were sold in Türkiye, a 2.4% decrease from the same month the previous year. Istanbul (18,814 houses), Ankara (9,861 houses), and Antalya (6,306 houses) reported the highest number of sales. The provinces of Bayburt (37 houses), Ardahan (46 houses), and Hakkari (60 houses) had the lowest sales.

Kazakhstan ranks sixth among foreign property buyers in Türkiye
Photo credit: data.tuik.gov.tr

Türkiye saw a 3.4% annual decline in housing sales between January and May 2024, totaling 465,761 units. Foreign-buyer real estate sales fell by 45.8% during this time, totaling 9,021 houses sold.

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