Housing Sales to Foreigners in Turkey: Current Trends and Future Outlook | EV Bodrum Insights

The Turkish real estate market has long been a magnet for international investors, offering an attractive mix of lifestyle appeal, strategic location, and favorable investment conditions.
However, as we move through 2024, the landscape is shifting. Understanding the latest data and emerging trends is critical for smart investors.

At EV Bodrum, we provide global buyers with expert guidance on navigating Turkey’s real estate market — especially in prestigious destinations like Bodrum, where demand for luxury villas, private pool mansions, and high-end seasonal rentals remains resilient.

Let’s dive into the current situation of housing sales to foreigners in Turkey, explore the reasons behind recent changes, and evaluate future expectations.

Current Overview: Housing Sales to Foreigners in 2024

While total housing sales across Turkey increased in 2024, sales to foreign buyers declined sharply.
According to TurkStat (Turkish Statistical Institute) data, 23,781 houses were sold to foreigners this year — the lowest figure in the last 7 years.

Annual sales trend to foreigners:

After peaking in 2022, foreign property purchases have experienced a steep downward correction over the past two years.

Top Cities Preferred by Foreign Investors

Despite the overall slowdown, certain regions continue to attract significant foreign interest:

Antalya and Istanbul remain the top choices — reflecting the continued appeal of coastal living and metropolitan opportunities.

At EV Bodrum, we see Bodrum emerging as a premium alternative, offering a unique blend of luxury, lifestyle, and investment security for discerning global buyers seeking exclusivity beyond traditional hotspots.

Leading Foreign Nationalities Buying in Turkey

The largest groups of foreign buyers in 2024 were:

Russian citizens led the market once again, followed by Iranian and Ukrainian nationals — a trend partly driven by geopolitical shifts and lifestyle migration patterns.

Key Reasons for the Decline in Foreign Sales

Several factors contributed to the drop in foreign real estate investment in Turkey:

• Rising Housing Prices: Sharp price increases have extended return-on-investment periods, making assets less attractive for short-term gains.

• Tougher Citizenship Requirements:
  Stricter citizenship-by-investment thresholds (now requiring a $400,000 minimum property purchase) have made the process more complex.

• Global Competition:
  Alternative destinations such as Dubai, Spain, Hungary, and Greece now offer competitive incentives, attracting foreign investors seeking simpler pathways or higher immediate returns.

At EV Bodrum, we help investors navigate these changing dynamics, offering properties that deliver true lifestyle value and strong long-term growth potential.

Investment Flow Shift: A Rising Trend of Turkish Investors Abroad

Another noteworthy trend is the increasing outbound investment by Turkish citizens into foreign real estate markets:

The data shows Turkish investors are increasingly seeking real estate opportunities abroad — an important shift that foreign investors must also consider when evaluating local market conditions.

2022: The Year of Record-Breaking Sales

It’s important to remember that 2022 was a historic high for Turkey’s real estate sector, with 67,490 units sold to foreigners — a remarkable achievement fueled by favorable currency rates, attractive citizenship programs, and growing international attention.

Understanding the cyclical nature of real estate cycles helps investors maintain perspective and make strategic, long-term decisions.

Future Outlook: What to Expect for 2025 and Beyond

Despite current challenges, market experts predict potential recovery starting in the second half of 2025. Several factors will be critical for revitalizing foreign investment demand:

• Economic Stability:
  Lower interest rates, controlled inflation, and currency stability are essential for restoring investor confidence.

• Investor-Friendly Regulations:
  Simplifying citizenship and residency processes could significantly boost attractiveness.

• Competitive Pricing:
  Adjustments in property values could reignite demand, especially in premium coastal regions like Bodrum.

EV Bodrum anticipates that the luxury segment — particularly private pool mansions, sea-view villas, and exclusive seasonal rentals — will remain highly resilient, attracting investors focused on lifestyle quality and long-term value rather than speculative short-term gains.

Conclusion: Strategic Investment Requires Local Expertise

While 2024 marks a cooling period for foreign real estate sales in Turkey, smart investors know that every slowdown presents opportunities.

Destinations like Bodrum — offering unmatched natural beauty, a secure environment, and world-class amenities — continue to hold immense appeal for discerning global citizens.
At EV Bodrum, our commitment is to deliver personalized, expert guidance — ensuring every client finds not only a beautiful property but a wise, future-proof investment.

Explore our curated collection of luxury villas in Bodrum, private pool mansions, and seasonal rental opportunities today.
Invest smarter. Live better. Create your Bodrum legacy with EV Bodrum.