House Sales Statistics, December 2023
In Türkiye, a million 225 thousand 926 houses were sold in 2023
As we bid farewell to 2023, the Türkiye real estate market tells a tale of resilience and adaptation in the face of dynamic challenges. Our comprehensive analysis of House Sales Statistics December 2023 real estate market report reveals intriguing patterns, shedding light on the highs and lows that shaped the industry over the past year. Despite a significant contraction in December and an annual downturn, the market remains a focal point for both domestic and international investors. Join us on this journey as we dissect key takeaways, regional dynamics, and demographic shifts, providing a nuanced understanding of Türkiye’s real estate landscape and the opportunities that lie ahead.
In Türkiye, house sales decreased by 17.5% in 2023 compared to the previous year and became a million 225 thousand 926. For the house sales of 2023, İstanbul had the highest share of house sales with 16.2% and 198 thousand 739 house sales. The followers of Istanbul were Ankara with 114 thousand 432 house sales with 9.3% and İzmir with 65 thousand 465 house sales with 5.3%. The provinces with the lowest number of sales were Ardahan with 426, Hakkari with 501 and Tunceli with 970 house sales.
House Sales Statistics December 2023
In December 2023, 138 thousand 577 houses were sold in Türkiye
In December, house sales decreased by 33.4% compared to the same month of the previous year and became 138 thousand 577. For the house sales of December 2023, İstanbul had the highest share with 17.1% and 23 thousand 714 house sales. The followers of İstanbul were Ankara with 11 thousand 458 house sales and İzmir with 7 thousand 166 house sales with the share of 8.3% and 5.2% respectively. The province with the lowest number of sales was Hakkari with 65 house sales.
Mortgaged house sales became 6 thousand 42
In Türkiye, mortgaged house sales decreased by 72.3% in December compared to the same month of the previous year and became 6 thousand 42. In 2023, mortgaged house sales decreased by 36.6% compared to the previous year and became 177 thousand 748. The share of mortgaged house sales was 4.4% for December 2023 and 14.5% for 2023.
A thousand 831 of mortgaged house sales in December and 53 thousand 455 of mortgaged house sales in 2023 were first sales.
Other house sales became 132 thousand 535
In Türkiye, other house sales decreased by 28.8% in December compared to the same month of the previous year and became 132 thousand 535. In 2023, other house sales decreased by 13.0% compared to the previous year and became a million 48 thousand 178. The share of other house sales was 95.6% for December 2023 and 85.5% for 2023.
House Sales Statistics December 2023 – 51 thousand 243 houses were sold for the first time
In Türkiye, first time house sales decreased by 34.2% in December compared to the same month of the previous year and became 51 thousand 243. In 2023, first time house sales decreased by 17.5% compared to the previous year and became 379 thousand 542. The share of first time sales was 37.0% for December 2023 and 31.0% for 2023.
Second hand house sales became 87 thousand 334
In Türkiye, second hand house sales decreased by 32.9% in December compared to the same month of the previous year and became 87 thousand 334. In 2023, second hand house sales decreased by 17.5% compared to the previous year and became 846 thousand 384. The share of second hand sales was 63.0% for December 2023 and 69.0% for 2023.
In Türkiye, 35 thousand 5 houses were sold to foreigners in 2023
House sales to foreigners decreased by 48.1% in 2023 compared to the previous year and became 35 thousand 5. House sales to foreigners had 2.9% share of all house sales. Antalya ranked first with 12 thousand 702 sales to foreigners in 2023. İstanbul was the second province with 11 thousand 229 sales. İstanbul was followed by Mersin with 3 thousand 16 sales.
House sales were mostly made to Russia citizens according to nationalities in 2023
Russia citizens bought 10 thousand 560 houses from Türkiye in 2023. The followers of Russia citizens were Iran citizens with 4 thousand 272 house sales and Iraq citizens with a thousand 917 house sales.
In December 2023, Russia citizens bought 527 houses from Türkiye. The followers of Russia citizens were Iran citizens with 205 house sales and Ukraine citizens with 113 house sales.
In Türkiye, women bought 401 thousand 933 and men bought 690 thousand 438 houses in 2023
While 401 thousand 933 houses with share 32.8% were bought by women and 690 thousand 438 houses with share 56.3% were bought by men, 19 thousand 610 houses with share 1.6% were bought jointly by women and men in Türkiye.
Tuik – House Sales Statistics December 2023
Key Takeaways:
- Market Contraction: The Türkiye real estate market experienced a significant contraction in December 2023, with a 33.4% decline in house sales compared to the same month in the previous year.
- Annual Sales Downturn: The annual house sales for 2023 decreased by 17.5%, totaling 1,225,926, indicating a challenging year for the real estate sector.
- Regional Dominance: Istanbul maintained its dominance, contributing to 17.1% of December sales and 16.2% of the annual total. Ankara and İzmir also held notable positions in the market.
- Provincial Disparities: Ardahan, Hakkari, and Tunceli recorded the lowest sales figures, highlighting potential areas for targeted interventions or market development strategies.
- Mortgaged House Sales Decline: Mortgaged house sales saw a sharp decline of 72.3% in December, constituting 4.4% of total sales for the month. However, for the entire year, mortgaged sales accounted for 14.5%.
- Majority from Other House Sales: The majority of transactions were from other house sales, comprising 95.6% in December and 85.5% annually.
- First-Time vs. Second-Hand Trends: First-time house sales and second-hand sales declined in December, but for the year, first-time sales constituted 31.0%, while second-hand sales held the majority at 69.0%.
- Foreign Investor Activity Decline: House sales to foreigners decreased by 48.1% in 2023. Antalya led in attracting foreign investors, followed by İstanbul and Mersin.
- Russian Investor Dominance: Russian citizens were the most active investors, purchasing 10,560 houses in 2023. Iran and Iraq citizens were the subsequent major investors.
- Demographic Distribution: Women accounted for 32.8% of house purchases, men dominated with a 56.3% share, and joint purchases represented 1.6% of the total market in 2023.
- Market Resilience: Despite challenges, the Türkiye real estate market demonstrates resilience. The upcoming report on February 16, 2024, is eagerly awaited for further insights into market trends and potential opportunities.
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Reference: https://www.tuik.gov.tr
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