(MENAFN) According to data released on Friday by TurkStat, home sales in Turkey experienced a substantial decline, plunging by 17.8 percent on an annualized basis in January. The figures reveal a notable decrease, with 80,308 residential properties changing hands last month compared to 138,577 in December 2023.

The data also highlights a significant drop of 50.5 percent in housing sales to foreign buyers compared to the previous year, with only 2,061 units sold in January.

Notably, the Mediterranean resort city of Antalya emerged as the frontrunner in sales to foreign buyers, accounting for the largest share with 747 units sold. Istanbul, Turkey’s most populous city, followed closely with 710 properties, while the southern province of Mersin ranked third with 211 units sold.

Among foreign nationals, Russians led the pack in terms of home purchases, acquiring a total of 555 units. They were followed by Iranians with 208 units, Ukrainians with 127, and both Iraqis and Kazakhs with 99 units each. These statistics provide insights into the preferences and trends among foreign buyers in Turkey’s real estate market.

MENAFN18022024000045015839ID1107865759