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The housing market in Turkey continues to be significantly affected by the consequences of Russia’s invasion of Ukraine: despite inflation rising in June to an annual rate of 78.62%, the number of housing units sold that month reached 150,509 – an increase of 11.7% over the same period last year. This is the highest number of apartments in the country since December, partly due to the aspiration of local citizens to keep their money between four walls – but that really does not end there. At the same time, there is an even greater jump in the annual level of 72.6% in sales of housing units to foreign nationals, which in June reached 35,383 purchases in the past year.