The fall of the Turkish lira – foreigners actively buy housing

The record devaluation of the Turkish national currency contributed to the sale of real estate to foreigners. In November, there were over 7,360 transactions, the highest figure for the month. The annual sales growth among foreign nationals exceeded 48%. This was the highest indicator not only for this period but also in recent years. The top three buyers include Iranians, Iraqis, and Russians. Most of the transactions were made in Istanbul. Then there were Antalya and Ankara. In mid-November, the lira collapsed to a record low against the US dollar, opening profitable investment opportunities for foreign investors in Turkish real estate.