Turkish real estate investments abroad do not slow down

Real estate purchases by residents in Turkey continue at a rapid pace.

The Central Bank of the Republic of Turkey’s (CBRT) balance of payments statistics revealed the increasing momentum.

According to the data, the acquisition of real estate abroad by residents was recorded as 175 million dollars in July. Thus, the trend of buying real estate abroad, which has been in triple digits on a monthly basis since February 2023, continued in July. The highest monthly figure in this trend was recorded in May with 213 million dollars.

As of July, an annualized figure of 2 billion dollars was reached in real estate acquisitions. In the whole of last year, the real estate acquisition of residents was recorded as 1.78 billion dollars.

In previous years, these figures remained quite low. In 2019, approximately only 200 million dollars of foreign real estate acquisition was realized.