Home sales to foreign nationals in August fell by 26.2% compared to 12 months ago.

Last month, foreigners bought 2,257 homes in the country, with 838 homes in Istanbul sold to foreigners. In Antalya, foreigners bought 969 homes.

As in past months, Russians constituted the biggest group of buyers. They bought 381 properties in Türkiye in August, down from 733 units a year ago. In the first eight months of 2024, home sales to Russian nationals declined 59% annually to 3,289 units.

Iranians bought 1,392 homes in January-August, down 57% from a year ago, while home sales to Ukrainian nationals were down 13% year-on-year to 1,057.

Meanwhile, data from the Central Bank showed on Sept. 17 that the pace of annual increase in the residential property price index (RPPI) continued to slow.

Indeed, overall home sales rose by 9.9% in August from a year ago, following a 16% annual increase recorded in the previous month. The year-on-year decline in mortgaged home sales also slowed/