Development of the real estate sector in Turkey

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

A total of 83,636 real estate was sold in June 2023, which is 44.4% less compared to the same month of the previous year. Istanbul ranks first with 13,578 house sales with a share of 16.2%, Ankara comes second with (8.8% share) and 7,325 total sales, and Antalya came third with (a 5.4% share) and 4,503 total sales. The provinces with the lowest number of sales were Ardahan with 17, Hakkari with 29 and Tunceli with 44 house sales.

House sales decreased by 22.1% in January-June 2023

In the January-June period, house sales decreased by 22.1% compared to the same period of the previous year and became 565 thousand 779.

Mortgage-financed sales decreased by 66.8% compared to June 2022 at 13,463 and 16.1% total sales share, (June 2022: 27.0%). In the January-June period, mortgaged house sales decreased by 28.6% compared to the same period of the previous year and became 121 thousand 530.

As a result of other real estate sales 70,173 real estate was sold. Other real estate sales decreased by 36.1% compared to June 2022. Other house sales had a 83.9% share of all house sales.

25,886 real estate was sold for the first time (new construction sales). The number of real estates sold for the first time decreased by 42.1% compared to June 2022. Of all real estate sales, the new real estate sales share in Turkey was 31.0% (June 2022: 29.7%).

In the sale of second-hand real estate, a total of 57,750 second-hand houses were sold. Second-hand sales decreased by 45.4% compared to June 2022.

Real estate sales to foreigners in Turkey over the same month of the previous year decreased by 69.6%, real estate sales to foreigners had 3.1% share of all real estate sales in June. Antalya ranked first with 4 thousand sales to foreigners. The followers of Antalya were İstanbul with 760 house sales and Mersin with 223 house sales to foreigners.

Data based on castrate and land registry (15.07.2023)

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

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

A total of 113,276 real estate was sold in May 2023, which is 7.7% less compared to the same month of the previous year. Istanbul ranks first with 18,435 house sales with a share of 16.3%, Ankara comes second with (9.9% share) and 11,196 total sales, and Antalya came third with (a 5.4% share) and 6,158 total sales. The provinces with the lowest number of sales were Ardahan with 18, Hakkari with 38, Bayburt and Tunceli with 55 house sales.

House sales decreased by 16.3% in January-May 2023

In the January-May period, house sales decreased by 16.3% compared to the same period of the previous year and became 482 thousand 143.

Mortgage-financed sales decreased by 6.3% compared to May 2022 at 27,476 and 24.3% total sales share, (May 2022: 23.9%). In the January-May period, mortgaged house sales decreased by 16.7% compared to the same period of the previous year and became 108 thousand 67.

As a result of other real estate sales 85,800 real estate was sold. Other real estate sales decreased by 8.2% compared to May 2022. Other house sales had a 75.7% share of all house sales.

34,413 real estate was sold for the first time (new construction sales). The number of real estates sold for the first time increased by 4.7% compared to May 2022. Of all real estate sales, the new real estate sales share in Turkey was 30.4% (May 2022: 26.8%).

In the sale of second-hand real estate, a total of 78,863 second-hand houses were sold. Second-hand sales decreased by 12.3% compared to May 2022.

Real estate sales to foreigners in Turkey over the same month of the previous year decreased by 46.9%, real estate sales to foreigners had 2.8% share of all real estate sales in May. Antalya ranked first with thousand 245 sales to foreigners. The followers of Antalya were İstanbul with 934 house sales and Mersin with 249 house sales to foreigners.

Data based on castrate and land registry (15.06.2023)