Development of the real estate sector in Turkey in November 2022– Surge In Mortgage Financed Property Sales in Turkey

A total of 117,806 real estate was sold in November 2022, which is 34.1% less compared to the same month of the previous year. Istanbul ranks first with 19,687 house sales with a share of 16.7%, Ankara comes second with (8.0% share) and 9,367 total sales, and Antalya came third with(6.7% share) and 7,902 total sales. The provinces with the lowest number of sales were Hakkari with 34, Ardahan with 47, and Bayburt with 58 house sales.

In the January-November period, house sales increased by 1.0% compared to the same period of the previous year and became a million 277 thousand 659.

Mortgage-financed sales decreased by %57.7 compared to November 2021 at 16,655 and %14.1 total sales share, (November 2021: %22.0).

As a result of other real estate sales 101,151 real estates were sold. other real estate sales decreased by 27.5% compared to November 2021. Other house sales had an 85.9% share of all house sales.

37,380 real estate were sold for the first time ( new construction sales ). The number of real estate sold for the first time decreased by % 32.9 compared to November 2021. of all real estate sales new real estate sales share in Turkey %31.7 (November 2021: %32.6 ).

In the sale of second-hand real estate, a total of 80,426 second-hand houses were sold. Second-hand sales decreased by %34.7 compared to November 2021.

Real estate sales to foreigners in Turkey over the same month of the previous year decreased by %17.4, real estate sales to foreigners had 5.2 % share of all Real estate sales in November. Antalya ranked first with 2 thousand 616 sales to foreigners. The followers of Antalya were İstanbul with thousand 733 house sales and Mersin with 567 house sales to foreigners.

Data based on castrate and land registry (15.12.2022)


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