Iraqi property purchases in Turkiye fall 11% in first 11 months of 2024

Shafaq News/ Iraqis' real estate purchases in Turkiye declined by over 11% compared to last year, the Turkish Statistical Institute (TURKSTAT) announced on Monday.

According to the institute’s data, Iraqis purchased 3,308 properties in Turkiye from January through November 2024, a decrease of 11.55% compared to the 3,740 properties purchased during the same period in 2023.

The data showed fluctuations in Iraqi property purchases this year, starting with 1,158 properties in January, dropping to 99 in February, rising to 112 in March, declining again to 82 in April, then increasing slightly to 98 in May and reaching 147 in November.

Iraqis ranked fourth among foreign Asian buyers of Turkish real estate, following Russians, Iranians, and Ukrainians, after being ranked third last year, TURKSTAT added.

Since 2015, Iraqis were among the leading foreign buyers of homes in Turkiye but dropped to second place behind Iranians at the beginning of 2021 and then to third place starting in April 2022, due to the increasing dominance of Russian buyers in the Turkish real estate market.