Development of the real estate sector in Turkey in May 2020 – Housing Sales Statistics May 2020

In May a total of 50,936 properties were sold, 44.6 % less than in May 2019. Istanbul took first place with 7,640 transfers and a share of 15%, followed by Ankara with 4,939 (9.7% share) and Izmir with 3,096 transfers (6.1% share).

Mortgage-financed sales leveling at 18,483 resulted in an increase of 23.9% compared to May 2019. The share of mortgage share in total sales was 36.3% (May 2019: 6.4%). In mortgage sales, Istanbul ranked first with 1,211 house sales.

32,45, houses changed hands as a result of self-financed transfers. Self-financed transfers decreased by 57.9% compared to May 2019. Istanbul ranked first with 5,070 house sales and Ankara second with 2,761 sales. Izmir follows with 1,842 sales.

16,860 houses were sold for the first time (= new construction sales). The number of properties sold for the first time decreased by 54.7% compared to May 2019. The sales share of new properties in Turkey in all house sales was 33.1% (May 2019: 41.1%. In new construction sales, Istanbul had the largest share followed by Ankara and İzmir.

A total of 34,076 houses changed hands in the second-hand sale of Turkish property. The second-hand sales showed a 37.7% decrease compared to May 2019.

Property sales in Turkey to foreignersdecreased by 78.1% compared to the same month of the previous year. The most popular provinces were Istanbul, Antalya, Ankara, Izmir and Yalova.

Data based on cadastral and land registry office (25.06.2020)

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