Iraq ranks fifth in Turkish real estate purchases

Shafaq News / The Turkish Statistical Institute announced on Thursday that Iraqis ranked fifth among the top nationalities purchasing Turkish real estate in the past month of October.

According to the agency's report, "Home sales dropped by 52.9% in October compared to the same month of the previous year, totaling 2,535 units. Istanbul led with the highest share, recording 931 home sales, followed by Antalya in second place with 758 home sales, and Mersin with 294 home sales."

The report indicated that "Russians led other nationalities in purchasing properties in Turkey during October, with a total of 731 homes sold. Iranians followed in second place with 235 homes, Germany third with 152 homes, Ukraine fourth with 138 homes, and Iraq fifth with 134 homes."

Among Arab countries, Saudi Arabia ranked after Iraq in terms of home purchases in Turkey, with 53 homes, followed by Kuwait with 47, Egypt with 35, and then Palestine with 27 homes.

Iraqis have consistently ranked at the top of the list of property buyers in Turkey since 2015. However, their position declined to second place after Iran at the beginning of 2021 before dropping to third place since April 2022 due to Russian dominance in Turkish real estate.