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

A total of 97,708 real estate was sold in January 2023, which is 10.6% higher compared to the same month of the previous year. Istanbul ranks first with 17,415 house sales with a share of 17.8%, Ankara comes second with (9.0% share) and 8,808 total sales, and Antalya came third with(5.7% share) and 5,572 total sales. The provinces with the lowest sales were Hakkari with 23, Ardahan with 24, and Tunceli with 42 house sales.

Mortgage-financed sales decreased by %10.9 compared to January 2022 at 16,203 and %16.6 total sales share, (January 2022: %20.6). 4 thousand 260 of the mortgaged house sales in January were first sales.

As a result of other real estate sales 81,505 real estates were sold. other real estate sales increased by 16.2% compared to January 2022. Other house sales had an 83.4% share of all house sales.

27,532 real estate were sold for the first time ( new construction sales ). The number of real estate sold for the first time increased by % 1.2 compared to January 2022. of all real estate sales new real estate sales share in Turkey %28.2 (January 2022: %30.8 ).

In the sale of second-hand real estate, a total of 70,176 second-hand houses were sold. Second-hand sales increased by %14.8 compared to January 2022.

Real estate sales to foreigners in Turkey over the same month of the previous year decreased by %0.6, real estate sales to foreigners had 4.3 % share of all Real estate sales in January. Antalya ranked first with thousand 592 sales to foreigners. The followers of Antalya were İstanbul with thousand 380 house sales and Mersin with 331 house sales to foreigners.

Data based on castrate and land registry (17.02.2023)


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