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

A total of 102,660 real estate was sold in October 2022, which is 25.3% less compared to the same month of the previous year. Istanbul ranks first with 16,987 house sales with a share of 16.5%, Ankara comes second with (7.9% share) and 8,146 total sales, and Antalya came third with(6.2% share) and 6,323 total sales. The provinces with the lowest number of sales were Hakkari with 30, Ardahan with 42, and Bayburt with 69 house sales.

In the January-October period, house sales increased by 6.7% compared to the same period of the previous year and became a million 159 thousand 853.

Mortgage-financed sales decreased by %52.7 compared to October 2021 at 13,268 and %12.9 total sales share, (October 2021: %20.4 .)

As a result of other real estate sales 89,392 real estates were sold. other real estate sales decreased by 18.3% compared to October 2021. Other house sales had an 87.1% share of all house sales.

32,692 real estate were sold for the first time ( new construction sales ). The number of real estate sold for the first time decreased by % 22.0 compared to October 2021. of all real estate sales new real estate sales share in Turkey %31.8 (October 2021: %30.5 ).

In the sale of second-hand real estate, a total of 69,968 second-hand houses were sold. Second-hand sales decreased by %26.7 compared to October 2021.

Real estate sales to foreigners in Turkey over the same month of the previous year decreased by %8.8, real estate sales to foreigners had 5.2 % share of all Real estate sales in October. Antalya ranked first with 2 thousand 123 sales to foreigners. The followers of Antalya were İstanbul with thousand 658 house sales and Mersin with 490 house sales to foreigners.

Data based on castrate and land registry (15.11.2022)


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