Development of the real estate sector in Turkey - February 2019

In February, 78,450 properties were sold, 18.2% less than in February of the previous year. Istanbul took first place with 14,462 transfers and a share of 18.4%, followed by Ankara with 7,690 (9.8%) and Izmir with 4,403 transfers (5.6%).

Mortgage-financed purchases fell by 68.2% to 8,890 properties. The proportion of transfers financed by mortgages totalled 11.3 %. Istanbul (1,724 properties) occupies the top position.

Self-financed transfers increased by 2.2 % to 69,560. Istanbul (12,738) and Ankara (6,648) are also in the lead here.

At 32,648 properties, new construction sales were 25.3 % down on the same month last year. The resale of properties also declined by 12.3 % to 45,802 properties.

Transfers of real estate to foreign citizens increased by 92.1 % year-on-year. The most popular provinces were Istanbul, Antalya, Ankara, Bursa and Yalova.

Data based on cadastral and land registry office (status 18.03.2019).

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