House Sales Statistics, August 2023
122 thousand 91 houses were sold in Türkiye
In Türkiye, house sales decreased by 1.1% in August compared to the same month of the previous year and became 122 thousand 91. İstanbul had the highest share with 14.3% and 17 thousand 408 house sales. The followers of İstanbul were Ankara with 11 thousand 7 house sales and İzmir with 6 thousand 504 house sales with the share of 9.0% and 5.3% respectively. The provinces with the lowest number of sales were Ardahan with 39, Hakkari with 67 and Artvin with 139 house sales.
House sales, August 2023
Houses sales decreased by 15.5% in January-August 2023
In January-August period, house sales decreased by 15.5% compared to the same period of the previous year and 797 thousand 418.
Mortgaged house sales became 16 thousand 375
In Türkiye, mortgaged house sales decreased by 26.1% in August compared to the same month of the previous year and became 16 thousand 375. Mortgaged house sales had 13.4% share of all house sales. In January-August period, mortgaged house sales decreased by 28.0% compared to the same period of the previous year and became 152 thousand 438.
3 thousand 762 of mortgaged house sales in August and 46 thousand 894 of mortgaged house sales in January-August period were first sales.
Other house sales became 105 thousand 716
In Türkiye, other house sales increased by 4.3% in August compared to the same month of the previous year and became 105 thousand 716. Other house sales had 86.6% share of all house sales. In January-August period, other house sales decreased by 11.9% compared to the same period of the previous year and became 644 thousand 980.
House sales by type, August 2023
35 thousand 310 houses were sold for the first time
In Türkiye, first time house sales decreased by 9.5% in August compared to the same month of the previous year and became 35 thousand 310. First sales had 28.9% share of all house sales. In January-August period, first time house sales decreased by 13.8% compared to the same period of the previous year and became 238 thousand 109.
Second hand house sales became 86 thousand 781
In Türkiye, second hand house sales increased by 2.7% in August compared to the same month of the previous year and became 86 thousand 781. Second hand sales had 71.1% share of all house sales. In January-August period, second hand house sales decreased by 16.2% compared to the same period of the previous year and became 559 thousand 309.
House sales by state, August 2023
In August, 3 thousand 58 houses were sold to foreigners
House sales to foreigners decreased by 42.0% in August compared to the same month of the previous year and became 3 thousand 58. House sales to foreigners had 2.5% share of all house sales in August. İstanbul ranked first with a thousand 66 sales to foreigners. The followers of İstanbul were Antalya with 919 house sales and Mersin with 248 house sales to foreigners.
In January-August period, house sales to foreigners decreased by 43.6% compared to the same period of the previous year and became 25 thousand 134.
House sales were mostly made to Russia citizens according to nationalities
In August, Russia citizens bought 733 houses from Türkiye. The followers of Russia citizens were Iran citizens with 342 house sales, Iraq citizens with 220 house sales and Kazakhstan citizens with 141 house sales.
Key Takeaways from the August 2023 House Sales Statistics:
- Steady Market Activity: Despite a minor decrease of 1.1% in August 2023 compared to the previous year, Turkey’s real estate market remains active, with 122,091 houses sold. This indicates continued interest and transactions in the market.
- Istanbul’s Dominance: Istanbul maintains its position as a real estate powerhouse, contributing 14.3% to the total sales in August, with 17,408 houses sold. This underscores the enduring appeal of the city for investors.
- Regional Sales: Ankara and Izmir also play significant roles in the market, with 11,007 and 6,504 house sales, respectively, in August. The market is not solely focused on Istanbul, showcasing regional diversity.
- Market Resilience: While some provinces reported lower sales, it’s crucial to view this in the context of market dynamics. The market has shown resilience, adapting to changing conditions.
- Annual Sales Decrease: House sales for the January-August 2023 period decreased by 15.5% compared to the previous year, totaling 797,418 transactions. This reflects broader economic factors impacting markets globally.
- Mortgaged Sales: Mortgaged house sales, at 16,375 in August, made up 13.4% of all house sales. Despite a 26.1% decrease, these transactions continue to be a significant part of the market.
- Positive Shift in Other Sales: Other house sales increased by 4.3% in August, reaching 105,716 transactions. This highlights the adaptability of the Turkish real estate market.
- First-Time Buyers: First-time house sales, though down by 9.5% in August, still represent a substantial share of 28.9% of all house sales. This indicates ongoing interest from new buyers.
- Second-Hand Sales: Second-hand house sales, with 86,781 transactions in August, remain a dominant force in the market, making up 71.1% of all house sales.
- Foreign Investment: In August, 3,058 houses were sold to foreigners, making up 2.5% of total house sales. Despite a 42.0% decrease, international interest in Turkish real estate remains significant.
- Russian Buyers: Russian citizens were prominent in the international market, purchasing 733 houses in August. This demonstrates the enduring attractiveness of Turkey for foreign investors.
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Reference: https://www.tuik.gov.tr
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