Foreign Buyers Return To Turkey While Real Home Prices Still Fall

Turkey's June housing data gives sellers a mixed signal: foreign purchases rose year on year for the first time since late 2025, but inflation-adjusted home prices still declined.

Foreign Demand Is Narrow But Visible

June foreign purchases rose to just over 2,000 homes, with Russians remaining the largest buyer group. Istanbul and Antalya remain the key markets where that demand can affect local pricing.

Mortgages Also Reopened Demand

Mortgage-backed sales rose strongly in June, suggesting lower or more available credit brought some local buyers back. That helps transaction counts, but not necessarily real purchasing power.

Inflation Changes The Price Story

Nominal residential prices were higher year on year, but real prices fell after inflation. Sellers may point to lira gains, while buyers should calculate dollar, euro and inflation-adjusted values.

Outlook

Turkey's next signal is whether foreign and mortgage demand survive through summer. Istanbul buyers should compare districts with foreign-buyer depth against areas driven mainly by domestic credit.

Turkey Deal Checks

For Turkey, the practical check is whether this local signal is visible in signed contracts, bank approvals, registered transfers, lease negotiations, completed works or enforceable public rules. Buyers should compare foreign buyers, Istanbul, TurkStat with title documents, service charges, financing terms, physical condition and realistic exit demand before treating the latest news as a price guarantee.

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