(MENAFN) According to data released this week by the Turkish statistics office TUIK, Russians led all foreign nationals in real estate purchases in Turkey in July.
According to the report, 109,000 flats were sold in Turkey this past month, an increase of 16.7 percent from the same period in 2016. 2,801 of these homes were bought by foreign buyers.
Russians topped the list of foreign purchasers in July with 772 apartment purchases, surpassing Iranian (272) along with Iraqi (204) citizens, who came in second and third, respectively. According to the research, Mersin, Antalya, along with Istanbul were the most preferred cities for international purchasing.
According to previous information, once sanctions forced Russians to stop investing in Western nations, they tripled their house purchases in Turkey last year.
The Turkish central bank reports that since last May, real estate values have increased by over a factor of two in nominal terms. The Turkish government has promised to control rising rents, and it is rumored that they are considering imposing a tax on people who hold vacant properties.
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