Turkey has started opening some districts that were previously closed for foreigners applying for residence permits, which may support demand for real estate in popular resort locations, primarily in Alanya and other areas of Antalya province, local media report.
This concerns a review of restrictions that in recent years applied to districts with a high concentration of foreign residents. Such zones were closed for first-time residence permit applications, including through the purchase or rental of housing. It was possible to buy real estate there, but it was impossible to obtain a residence permit at an address in a closed district.
After long appeals from businesses, migration authorities lifted some of the strict restrictions in sought-after areas of Alanya. Among the locations that are again being discussed as available for full legalization of foreigners are Mahmutlar, Avsallar and other popular areas of the resort market.
The industry publication Türkiye Today also writes that in June 2026 Turkey effectively returned to broader availability of districts for residence permit applications, with the exception of certain restrictions, particularly in two districts of Istanbul – Fatih and Esenyurt. At the same time, the market is still waiting for additional official clarifications on legal details, including the link between property purchases, address registration and the right to resident status.
Previously, Turkey had a system of closed districts if the share of foreigners in the local population exceeded a set threshold. In 2022-2025, this became one of the factors cooling foreign demand for housing in resort cities, especially in Antalya, Alanya, Mersin and Istanbul.
For the real estate market, the opening of previously closed districts may become an important signal. Foreign buyers often view the purchase of housing in Turkey not only as an investment or resort asset, but also as a basis for long-term residence. Therefore, the ability to register an address and submit documents for a residence permit directly affects the liquidity of such properties.
This change may be especially sensitive for Alanya. In recent years, Mahmutlar, Kestel, Avsallar, Kargicak and other districts actively attracted buyers from Russia, Ukraine, Kazakhstan, Iran, Germany and Middle Eastern countries. After the introduction of restrictions, part of demand shifted to other locations or was postponed.
Restored access to residence permits may support both the primary new-build market and the secondary market, where many apartments were purchased by foreigners in 2020-2023. However, experts expect demand to be more cautious than during the peak relocation period after 2022: buyers have become more attentive to legal risks, housing maintenance costs, the lira exchange rate and the prospects for obtaining documents.
According to the Turkish Statistical Institute, in April 2026 foreigners purchased 1,516 residential properties in Turkey, 1.1% less than a year earlier. The share of foreigners in total sales was 1.2%. In January-April 2026, foreign buyers purchased 5,681 properties, 11.6% less than in the same period of 2025.
The main centers of sales to foreigners in April 2026 remained Antalya and Istanbul. According to specialized Turkish platforms based on TURKSTAT statistics, foreigners bought 453 properties in Antalya, 412 in Istanbul and 120 in Mersin. They were followed by Yalova – 68, Ankara – 53, Bursa – 49, Izmir – 41, Mugla – 27, Kocaeli – 24 and Sakarya – 21.
Among foreign buyers in April 2026, Russian citizens were the leaders, purchasing 263 real estate properties. Chinese citizens ranked second with 110 properties, followed by Iranians with 100. Ukrainians ranked fourth with 78 purchases. They were followed by citizens of Iraq – 65, Germany – 61, Kazakhstan – 54, Azerbaijan – 48, Saudi Arabia – 39 and the United Kingdom – 35.
Thus, Ukrainians remain one of the notable groups of foreign buyers of Turkish real estate, although in April 2026 they were no longer in the top three. For comparison, in January 2026 Ukrainians ranked third among foreigners, purchasing 77 properties and trailing only Russians and Iranians.
Georgia’s residential real estate market continues to grow: in April 2026, apartment sales in Tbilisi and Batumi showed double-digit growth, and foreign buyers remain a key driver of demand, particularly on the Black Sea coast.
According to data from the Recov.ge platform, developed by Colliers Georgia, 3,603 apartment transactions were recorded in Tbilisi in April 2026, a 12.7% increase compared to the same month last year. The market’s total transaction value grew by 28.3% to reach $310 million.
Growth in the capital was recorded in both the primary and secondary markets. The number of transactions in new projects increased by 14.6% year-over-year, including a 10.7% increase in the primary market and a 20.4% increase in the secondary market for new construction. Transactions involving older apartments also rose—by 6.2%.
Prices in Tbilisi also continued to rise. In April, the weighted average price per square meter for new apartments rose by 10.2% in the suburbs, by 2.2% in the wider city center, and by 12.1% in the city center. Overall in Tbilisi, the price of primary market transactions increased by 11.2%, and in the secondary market by 11%.
At the same time, the capital’s market remains predominantly domestic. In April 2026, Georgian citizens continued to dominate among buyers in both older and new developments, while foreign buyers accounted for 10.7%.
In Batumi, the market is more dependent on foreign demand. In April 2026, 1,292 apartments were sold in the city, which is 12.3% more than a year earlier. The market’s total value grew by 27.4% to reach $85 million. For comparison, 1,165 apartments were sold in Batumi in April 2025, and 1,234 in April 2024.
The new-construction segment saw the most active growth. Sales of apartments in new projects increased by 12.3%, while transactions involving existing housing decreased by 5.4%. Growth in the primary market was 13.3%, and in the secondary market for modern projects, 11.6%.
The weighted average price per square meter in new buildings in Batumi rose by 11.3% year-over-year in April, reaching $1,351. Price growth was 15.2% in the primary market and 9.4% in the secondary market.
The main feature of Batumi remains the high share of foreign buyers. In April 2026, foreigners accounted for 47% of transactions involving both older and new apartments, as well as 90% of the total increase in the number of transactions. This means that foreign demand was the primary driver of the market’s acceleration.
According to Galt & Taggart data for the first quarter of 2026, the share of foreigners in the Batumi apartment market was even higher: Georgian citizens purchased 37% of apartments, while foreign buyers accounted for 63% of transactions. Buyers from European countries constituted the largest group, accounting for 18% of all sales. Another 16% of transactions were made by citizens of Ukraine, Russia, and Belarus. Buyers from Israel accounted for 10%, from Turkey—4%, from Arab countries—3%, and from other countries—about 12%.
This structure indicates that Batumi remains an investment market focused on external demand, short-term rentals, and the purchase of resort real estate. In contrast, Tbilisi remains primarily a residential market: according to TBC Capital, about 80% of purchases in the capital are for residential purposes, whereas in Batumi, about 85% of purchases are for investment purposes.
In the longer term, the Georgian market continues to normalize following the surge in 2022, when demand rose sharply due to migration flows. According to TBC Capital, in 2024–2025, demand growth slowed to 5.6–6.0% per year, and in 2026, the company forecasts residential real estate market growth of approximately 4.5%.
In 2025, according to TBC Capital, 78,500 real estate transactions were registered in Georgia, which is 6% more than the previous year. Of these, 49,200 transactions were in the secondary market, and another 29,300 were in the primary market. The average housing price in Tbilisi reached $1,312 per square meter, increasing by 4.1% over the year, while in Batumi it reached $1,395 per square meter, which is 16.5% higher than the previous year’s level.
Georgia remains attractive to foreign buyers due to its relatively low entry barrier, growing tourist traffic, straightforward transaction processes, and high rental yields compared to many European markets. However, rapid growth in supply, particularly in Batumi, and a gradual decline in rental yields may limit further price growth.
Effective March 1, 2026, Georgia also raised the minimum real estate investment threshold for obtaining a temporary residence permit to $150,000. This may shift demand toward more expensive properties and long-term investors, but at the same time reduce interest among some buyers focused on smaller apartments.
Vietnam’s apartment market has cooled sharply following a period of rapid price growth: developers are facing a decline in transactions, buyer caution, and the need to stimulate sales.
According to local media reports, demand for apartments has dropped significantly amid high interest rates, inflationary pressures, and general geopolitical instability. Vietnam’s Ministry of Construction has also recorded a decline in transaction volumes nationwide, confirming the market’s shift from a phase of frenzied growth to more selective demand.
However, the market’s problem is not limited to a decline in buyer interest. An imbalance in supply persists in Vietnam: in the largest cities, primarily Hanoi and Ho Chi Minh City, there remains a shortage of affordable housing, while a significant portion of new projects falls into the higher-priced segment. Vietnam Investment Review notes that in the first quarter of 2026, Hanoi and Ho Chi Minh City continued to face a gap between supply and demand due to a shortage of affordable apartments.
The most pressing issue remains housing costs. In Hanoi, prices for new apartments continued to rise in the first quarter of 2026, reaching an average of approximately 128 million dong per square meter, while the secondary market has already begun to show signs of a price correction. Developers attribute the price increases to rising costs of construction materials, financing, and land.
In Ho Chi Minh City, the trend is different: after prices rose in 2025, the market began to cool, and in some areas, prices fell by 1–7%, which partially stimulated demand.
The Vietnamese government is trying to curb market overheating and expand the supply of affordable housing. Earlier, Prime Minister Pham Minh Chinh called for accelerating housing construction, simplifying administrative procedures, and developing social housing, as rising prices have made real estate purchases unaffordable for many families.
Additional pressure on the market is being created by the government’s plans to curb speculative demand. In January 2026, Reuters reported that Vietnam was preparing tax measures against speculation in the real estate market, where in 2025 apartment prices rose by 20–30% and land prices by 20–25%.
Thus, the Vietnamese apartment market is entering a more complex phase: prices remain high, there is a shortage of affordable supply, but demand is no longer ready to automatically absorb new properties at any price. For developers, this means the need to revise pricing policies, offer installment plans, discounts, and more realistic purchase terms. For buyers, it presents an opportunity for stronger bargaining positions, especially in the secondary market and in areas where supply is growing faster than demand.
Foreign buyers continue to play a significant role in Spain’s housing market, despite record price increases and a gradually intensifying political debate over housing affordability, according to data from Spanish property registries.
In the first quarter of 2026, foreigners completed nearly 25,000 housing transactions, accounting for about 14% of all sales in the country. This figure marked the fourth-best result in the history of the data series. Meanwhile, the average price per square meter in Spain reached a new all-time high of EUR 2,429 per square meter.
Despite a slight year-over-year decline of 3.2% in the number of foreign transactions, international demand remains steady. The majority of foreign buyers are EU citizens, accounting for 58.3% of such transactions. The largest groups of buyers in the first quarter were citizens of the United Kingdom (6.8%), the Netherlands (6.6%), Morocco (6.2%), Germany (6.0%), and Italy (5.5%). Buyers from France, Romania, and Poland also account for a significant share.
Geographically, foreign demand remains concentrated in tourist and coastal regions. The highest share of transactions with foreigners was recorded in Alicante—44.6%, Málaga—34.3%, the Balearic Islands—28.9%, the Canary Islands (22.8%), and Murcia (21.7%). This confirms that foreigners primarily purchase housing in areas popular for leisure, rentals, and migration.
This growth in demand is occurring against the backdrop of a general rise in housing prices. The average price of real estate in Spain rose by 8.9% over the year. Resale homes increased in price by 9.6%, while new construction rose by 6.9%. The most expensive regions remain the Community of Madrid—EUR4,407 per square meter, the Balearic Islands—EUR4,173, the Basque Country—EUR3,474, and Catalonia—EUR2,852. Among cities, San Sebastián leads the way at EUR6,154 per square meter, followed by Madrid at EUR5,428 and Barcelona at EUR4,922.
Mortgage lending is also supporting demand. In the first quarter, the number of mortgages rose by 15.2% year-over-year, and about three-quarters of housing transactions were financed with a loan. This shows that the market relies not only on buyers with cash on hand but also on the availability of bank financing.
Over the longer term, foreign demand also remains high. In 2025, foreigners purchased nearly 97,300 houses and apartments in Spain, setting a new record. Their share of total transactions was 13.8%, compared to 14.6% in 2024 and 15% in 2023.
Ukrainian buyers are also a notable presence in the Spanish market. According to data from Spanish notaries, in the first half of 2025, Ukrainian citizens completed 2,165 real estate transactions in Spain, setting a historic record for themselves. Idealista notes that Ukrainians joined the group of nationalities that purchased housing in Spain more actively in 2025 than ever before.
Separate statistics on Ukrainians show that their interest in Spain is linked not only to investment but also to relocation, temporary refuge, and long-term residency.
The global rise in skim milk powder prices has stimulated demand for Ukrainian products and led to unusually strong dynamics in the domestic market, the industry analytical agency “Infagro” reported on Monday.
According to the agency, the export geography of skim milk powder (SMP) in February was unusual. Syria became the main buyer with a 30% share, followed by Malaysia (14%), Japan (13%), Georgia (7%), and Israel (6%). The remaining 29% of shipments went to other markets.
“This distribution seems unexpected, given that just six months ago, Syria was hardly considered by exporters. It is expected that in the near future, suppliers will begin to reorient themselves more actively toward the European market,” analysts noted.
Experts predict that, under favorable conditions, the EU quota of 7,500 tons could be utilized in the first half of the year. At the same time, traders are in no hurry to completely abandon alternative markets that have already proven their effectiveness.
In the whole milk powder (WMP) segment, export activity is currently limited, but the supply structure is clearly concentrated: Israel accounts for 57% of exports, and Poland for 43%, Infagro noted.
In Kyiv’s primary housing market in 2026, apartments with European-style layouts have effectively become the new standard of demand. According to an analytical study by the development company Intergal-Bud, their share of the demand structure is 60–70% depending on the segment, and in certain comfort+ and business-class projects, it already exceeds 75%.
As the company notes, the trend, which began as early as 2022, became firmly established in 2025–2026. While the share of demand for apartments with European-style layouts was about 38% in 2022 and 52% in 2024, it exceeded 60% in 2025 and continued to grow in the first quarter of 2026.
Changes to the “єОселя” state program, which took effect in February 2026, served as an additional growth factor. The new area standards stipulate 52.5 square meters for a family of 1–2 people plus 21 square meters for each additional family member, while the maximum housing area eligible under the program is significantly limited. If an apartment exceeds the established standard by more than 10%, the buyer effectively loses the opportunity to take advantage of preferential financing or is forced to cover the significant difference in cost on their own.
“Classic layouts with long hallways, large unproductive areas, and small, isolated kitchens are becoming economically unviable. Today, buyers value not the number of square meters, but the lifestyle the apartment offers. A spacious kitchen-living room, separate bedrooms, a minimum of hallways, and thoughtful zoning are no longer just a bonus but a basic requirement. “This is particularly noticeable among families who are buying a home to live in themselves, rather than as an investment,” the study quotes Elena Ryzhova, Commercial Director of Intergal-Bud.
According to the company’s data, among the largest category of first-time homebuyers—people under 40—one in two chooses one- or two-bedroom apartments with open-plan layouts ranging from 38 to 60 square meters. The primary motivation is purchasing a home for personal residence. Buyers over 40 are more likely to choose two-bedroom or ergonomically designed three-bedroom apartments ranging from 65 to 85 square meters, where privacy, separate functional zones, and comfort for the whole family remain key factors.
Intergal-Bud estimates that, for the same floor area, a European-style layout provides 15–20% more usable space compared to traditional layouts, and the space efficiency ratio exceeds 85% versus 65–70% in older housing stock. This also means lower costs for repairs, heating, and maintenance.
At the same time, supply is not yet keeping up with demand. According to the company’s analysts, only one in seven apartments in new buildings fully meets the criteria for a true Euro-style layout—a spacious kitchen-living room, separate bedrooms, no “dead” hallways, and logical functional zoning.
The company believes that apartments with excess square footage and outdated layouts have already fallen out of active demand, while compact and functional European-style layouts continue to sell quickly even in challenging market conditions.
According to Intergal-Bud’s estimates, in 2026–2027 the market may face a shortage of high-quality finished housing specifically in the segment of functional comfort-class apartments, which best align with the new demand structure. The company cites the updated terms of the “єОселя” program, the limited number of new projects, rising construction costs, and accumulated pent-up demand as the main market drivers.
“Intergal-Bud” is one of Ukraine’s largest real estate development companies, operating in the residential real estate market since 2003. The company is implementing projects in Kyiv, Lviv, Chernivtsi, Zhytomyr, Rivne, Uzhhorod, and other cities. The developer’s portfolio includes dozens of residential complexes, and its main focus remains on the construction of comfort-, comfort+, and business-class housing.
