House Sales Details in January 2024

Sales of mortgaged houses fell to 5,915, a 63.5% decrease from last year, representing 7.4% of the total house sales. Of these, 1,404 were first-time sales.

Non-mortgaged house sales stood at 74,393, down 8.7% from the previous year, making up 92.6% of all house sales.

There were 25,263 first-time house sales, a decrease of 8.2% compared to last year, accounting for 31.5% of the total. Meanwhile, second-hand house sales were 55,045, down 21.6%, and constituted 68.5% of all sales.

International buyers purchased 2,061 houses in January, a 50.5% decrease from the previous year, with these sales making up 2.6% of the total. Antalya was the most popular location with 747 sales to foreigners, followed by Istanbul with 710, and Mersin with 211.

The majority of international sales were to citizens from Russia, who bought 555 houses. They were followed by buyers from Iran with 208 sales, Ukraine with 127, and both Iraq and Kazakhstan with 99 sales each.

Data based on real estate transactions and land registry (01.02.2024)

Overall House Sales in 2023

Throughout 2023, house sales in Türkiye decreased by 17.5% compared to the previous year, totaling 1,225,926 houses. Istanbul had the highest share of house sales with 198,739 (16.2%), followed by Ankara with 114,432 (9.3%) and İzmir with 65,465 (5.3%). The provinces with the lowest number of sales were Ardahan with 426, Hakkari with 501, and Tunceli with 970 house sales.

Mortgaged House Sales in December decreased by 72.3% year-over-year to 6,042, accounting for 4.4% of all sales. Throughout 2023, mortgaged house sales decreased by 36.6% to 177,748.

Other House Sales in December were 132,535, a 28.8% decrease from the previous year, making up 95.6% of total sales. In 2023, these sales decreased by 13.0% to 1,048,178.

First Time House Sales in December were 51,243, down 34.2% from last year, representing 37.0% of all sales. Throughout 2023, first-time sales decreased by 17.5% to 379,542.

Second-Hand House Sales in December totaled 87,334, a 32.9% decrease from the previous year, accounting for 63.0% of all sales. Throughout 2023, second-hand sales decreased by 17.5% to 846,384.

House Sales to Foreigners in December decreased by 67.7% year-over-year to 2,064, representing 1.5% of all sales. Throughout 2023, sales to foreigners decreased by 48.1% to 35,005. Antalya led with 12,702 sales to foreigners, followed by İstanbul with 11,229, and Mersin with 3,016.

Data based on castrate and land registry (15.01.2024)