House Sales Statistics, July 2023
109 thousand 548 houses were sold in Türkiye
In Türkiye, House Sales Statistics July 2023 increased by 16.7% compared to the same month of the previous year and became 109 thousand 548. İstanbul had the highest share with 14.4% and 15 thousand 724 house sales. The followers of İstanbul were Ankara with 9 thousand 688 house sales and İzmir with 5 thousand 203 house sales with the share of 8.8% and 4.7% respectively. The provinces with the lowest number of sales were Ardahan with 27, Hakkâri with 40 and Tunceli with 91 house sales.
House sales, July 2023
House sales decreased by 17.7% in January-July 2023
In January-July period, house sales decreased by 17.7% compared to the same period of the previous year and became 675 thousand 327.
Mortgaged house sales became 14 thousand 533
In Türkiye, mortgaged house sales decreased by 24.1% in July compared to the same month of the previous year and became 14 thousand 533. Mortgaged house sales had 13.3% share of all house sales. In January-July period, mortgaged house sales decreased by 28.2% compared to the same period of the previous year and became 136 thousand 63.
3 thousand 633 of mortgaged house sales in July and 43 thousand 132 of mortgaged house sales in January-July period released as first hand sales.
Other house sales became 95 thousand 15
In Türkiye, other house sales increased by 27.1% in July compared to the same month of the previous year and became 95 thousand 15. Other house sales had 86.7% share of all house sales. In January-July period, other house sales decreased by 14.5% compared to the same period of the previous year and became 539 thousand 264.
House sales by type, July 2023
31 thousand 641 houses were sold for the first time
In Türkiye, first time house sales increased by 10.3% in July compared to the same month of the previous year and became 31 thousand 641. First sales had 28.9% share of all house sales. In January-July period, first time house sales decreased by 14.5% compared to the same period of the previous year and became 202 thousand 799.
Second hand house sales became 77 thousand 907
In Türkiye, second hand house sales increased by 19.5% in July compared to the same month of the previous year and became 77 thousand 907. Second hand sales had 71.1% share of all house sales. In January-July period, second hand house sales decreased by 19.0% compared to the same period of the previous year and became 472 thousand 528.
House sales by state, July 2023
In July, 2 thousand 801 houses were sold to foreigners
House sales to foreigners decreased by 28.9% in July compared to the same month of the previous year and became 2 thousand 801. House sales to foreigners had 2.6% share of all house sales in July. Antalya ranked first with 996 sales to foreigners. The followers of Antalya were İstanbul with 832 house sales and Mersin with 263 house sales to foreigners.
In January-July period, house sales to foreigners decreased by 43.9% compared to the same period of the previous year and became 22 thousand 76.
House sales were mostly made to Russia citizens according to nationalities
In July, Russia citizens bought 772 houses from Türkiye. The followers of Russia citizens were Iran citizens with 272 house sales, Iraq citizens with 204 house sales and Ukraine citizens with 146 house sales.
Key Takeaways:
- Strong Overall Growth: The Türkiye real estate market demonstrated robust growth in July 2023, with a substantial 16.7% increase in house sales compared to the same month the previous year.
- Istanbul’s Dominance: İstanbul emerged as the leader in house sales, contributing to 14.4% of the total market share, boasting an impressive 15,724 sales. This highlights the city’s continued allure to both domestic and international buyers.
- Regional Dynamics: Ankara and İzmir followed İstanbul, with 9,688 and 5,203 house sales respectively. These cities accounted for 8.8% and 4.7% of the market share, indicating a healthy demand across key regions.
- Mixed Performance in Yearly Comparison: While the monthly data showcased positive growth, the January-July period experienced a 17.7% decrease in house sales compared to the previous year. This suggests a need to assess the broader market trend over time.
- Mortgaged vs. Non-Mortgaged: Mortgaged house sales declined by 24.1% in July, contributing to 13.3% of total house sales. In contrast, non-mortgaged house sales increased by 27.1%, signaling diverse opportunities for buyers with varying financial preferences.
- Encouraging First-Time Sales: First-time house sales grew by 10.3% in July, showing potential for market recovery. Although the January-July period witnessed a decline, the monthly increase suggests a positive shift in this segment.
- Thriving Second-Hand Market: Second-hand house sales surged by 19.5% in July, accounting for a significant 71.1% of all house sales. This indicates a strong demand for pre-owned properties.
- Foreign Investor Landscape: House sales to foreigners saw a decline of 28.9% in July, with Antalya leading in attracting foreign buyers, followed by İstanbul and Mersin. Overall, house sales to foreigners decreased by 43.9% in the January-July period.
- Diverse Nationalities: Russian citizens were the top foreign buyers in July, followed by Iran, Iraq, and Ukraine citizens. This suggests a diverse pool of international investors contributing to the Türkiye real estate market.
- Market Insights: The July 2023 data underscores the importance of analyzing both monthly and yearly trends to understand the market’s nuances. For businesses operating in the real estate sector, staying informed about regional disparities and foreign investor preferences is crucial for informed decision-making.
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Reference: https://www.tuik.gov.tr
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