Development of the real estate sector in Turkey

Development of the real estate sector in Turkey in September 2023– Surge In Mortgage Financed Property Sales in Turkey

A total of 102,656 real estate was sold in September 2023, which is 9.5% less compared to the same month of the previous year. Istanbul ranks first with 15,247 house sales with a share of 14.9%, Ankara comes second with (8.8% share) and 9,048 total sales, and İzmir came third with (a 5.3% share) and 5,476 total sales. The provinces with the lowest number of sales were Ardahan with 47, Hakkari with 55 and Bayburt with 77 house sales.

House sales decreased by 14.9% in January-September 2023

In the January-September period, house sales decreased by 14.9% compared to the same period of the previous year and 900 thousand 74.

Mortgage-financed sales decreased by 50.2% compared to September 2022 at 8,446 and 8.2% total sales share, (September 2022: 15.0%). In the January-September period, mortgaged house sales decreased by 29.6% compared to the same period of the previous year and became 160 thousand 884.

As a result of other real estate sales 94,210 real estate was sold. Other real estate sales decreased by 2.3% compared to September 2022. Other house sales had a 91.8% share of all house sales.

30,488 real estate was sold for the first time (new construction sales). The number of real estates sold for the first time decreased by 15.2% compared to September 2022. Of all real estate sales, the new real estate sales share in Turkey was 29.7% (September 2022: 31.7%).

In the sale of second-hand real estate, a total of 72,168 second-hand houses were sold. Second-hand sales decreased by 6.8% compared to September 2022.

Real estate sales to foreigners in Turkey over the same month of the previous year decreased by 42.0%, real estate sales to foreigners had 2.9% share of all real estate sales in September. Antalya ranked first with a thousand 7 sales to foreigners. The followers of Antalya were İstanbul with 978 house sales and Mersin with 211 house sales to foreigners.

Data based on castrate and land registry (15.10.2023)

Development of the real estate sector in Turkey in September 2023 – Housing Sales Statistics in September 2023

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Development of the real estate sector in Turkey in August 2023– Surge In Mortgage Financed Property Sales in Turkey

A total of 122,091 real estate was sold in August 2023, which is 1.1% less compared to the same month of the previous year. Istanbul ranks first with 17,408 house sales with a share of 14.3%, Ankara comes second with (9.0% share) and 11,007 total sales, and İzmir came third with (a 5.3% share) and 6,504 total sales. The provinces with the lowest number of sales were Ardahan with 39, Hakkari with 67, and Artvin with 139 house sales.

House sales decreased by 15.5% in January-August 2023

In the January-August period, house sales decreased by 15.5% compared to the same period of the previous year and became 797 thousand 418.

Mortgage-financed sales decreased by 26.1% compared to August 2022 at 16,375 and 13.4% total sales share, (August 2022: 18.0%). In the January-August period, mortgaged house sales decreased by 28.0% compared to the same period of the previous year and became 152 thousand 438.

As a result of other real estate sales 105,716 real estate was sold. Other real estate sales increased by 4.3% compared to August 2022. Other house sales had a 86.6% share of all house sales.

35,310 real estate was sold for the first time (new construction sales). The number of real estates sold for the first time increased by 9.5% compared to August 2022. Of all real estate sales, the new real estate sales share in Turkey was 28.9% (August 2022: 31.6%).

In the sale of second-hand real estate, a total of 86,781 second-hand houses were sold. Second-hand sales increased by 2.7% compared to August 2022.

Real estate sales to foreigners in Turkey over the same month of the previous year decreased by 42.0%, real estate sales to foreigners had 2.5% share of all real estate sales in August. İstanbul ranked first with a thousand 66 sales to foreigners. The followers of İstanbul were Antalya with 919 house sales and Mersin with 248 house sales to foreigners.

Data based on castrate and land registry (15.09.2023)