Iraq falls to fifth place in Turkish real estate purchases

Shafaq News/ Iraqis dropped to fifth place among foreign nationals purchasing real estate in Turkiye during August, down from fourth place in the previous month, the Turkish Statistical Institute (TURKSTAT) announced on Tuesday.

In its report, TURKSTAT stated that home sales to foreigners decreased by 26.2% in August compared to the same month in 2023, totaling 2,257 homes, accounting for 1.7% of total home sales.

The provinces with the highest number of homes sold to foreigners were Istanbul with 838 sales, Antalya with 696, and Mersin with 174.

The institute indicated that "Russians topped the list of foreign buyers in Turkiye in August, purchasing 381 homes, followed by Iranians with 171 homes, Ukraine in third place with 161 homes, Germany in fourth with 139 homes, Iraq in fifth with 136 homes, Kazakhstan in sixth with 98 homes, Azerbaijan in seventh with 90 homes, and Kuwait in eighth with 75 homes."

Notably, Iraqis had consistently led the list of foreign buyers of homes in Turkiye since 2015, but their ranking dropped to second place after Iranians at the beginning of 2021, and further to third place since April 2022 following a surge in Russian purchases of Turkish real estate.