House Sales Statistics, May 2023
113 thousand 276 houses were sold in Türkiye
House Sales Statistics May decreased by 7.7% compared to the same month of the previous year and became 113 thousand 276. İstanbul had the highest share with 16.3% and 18 thousand 435 house sales. The followers of İstanbul were Ankara with 11 thousand 196 house sales and Antalya with 6 thousand 158 house sales with the share of 9.9% and 5.4% respectively. The provinces with the lowest number of sales were Ardahan with 18, Hakkari with 38, Bayburt and Tunceli with 55 house sales.
House sales, May 2023
House sales decreased by 16.3% in January-May 2023
In January-May period, house sales decreased by 16.3% compared to the same period of the previous year and became 482 thousand 143.
Mortgaged house sales became 27 thousand 476
In Türkiye, mortgaged house sales decreased by 6.3% in May compared to the same month of the previous year and became 27 thousand 476. Mortgaged house sales had 24.3% share of all house sales. In January-May period, mortgaged house sales decreased by 16.7% compared to the same period of the previous year and became 108 thousand 67.
9 thousand 249 of mortgaged house sales in May and 34 thousand 801 of mortgaged house sales in January-May period released as first hand sales.
Other house sales became 85 thousand 800
In Türkiye, other house sales decreased by 8.2% in May compared to the same month of the previous year and became 85 thousand 800. Other house sales had 75.7% share of all house sales. In January-May period, other house sales decreased by 16.2% compared to the same period of the previous year and became 374 thousand 76.
House sales by type, May 2023
34 thousand 413 houses were sold for the first time
In Türkiye, first time house sales increased by 4.7% in May compared to the same month of the previous year and became 34 thousand 413. First sales had 30.4% share of all house sales. In January-May period, first time house sales decreased by 11.3% compared to the same period of the previous year and became 145 thousand 272.
Second hand house sales became 78 thousand 863
In Türkiye, second hand house sales decreased by 12.3% in May compared to the same month of the previous year and became 78 thousand 863. Second hand sales had 69.6% share of all house sales. In January-May period, second hand house sales decreased by 18.3% compared to the same period of the previous year and became 336 thousand 871.
House sales by state, May 2023
In May, 3 thousand 167 houses were sold to foreigners
House sales to foreigners decreased by 46.9% in May compared to the same month of the previous year and became 3 thousand 167. House sales to foreigners had 2.8% share of all house sales in May. Antalya ranked first with a thousand 245 sales to foreigners. The followers of Antalya were İstanbul with 934 house sales and Mersin with 249 house sales to foreigners.
In January-May period, house sales to foreigners decreased by 37.8% compared to the same period of the previous year and became 16 thousand 650.
House sales were mostly made to Russia citizens according to nationalities
In May, Russia citizens bought 991 houses from Türkiye. The followers of Russia citizens were Iran citizens with 503 house sales, Ukraine citizens with 175 house sales and Germany citizens with 129 house sales.
Key Takeaways:
Overall, the house sales statistics for May 2023 paint a mixed picture for the Turkish property market. While there are some positive signs, such as the increase in first time house sales, there are also some worrying trends, such as the decline in mortgaged house sales and house sales to foreigners. It remains to be seen how the market will perform in the coming months.
- Total house sales decreased by 7.7% in May compared to the same month of the previous year.
- İstanbul had the highest share of house sales with 16.3%, followed by Ankara and Antalya.
- Mortgaged house sales decreased by 6.3% in May, while other house sales decreased by 8.2%.
- First time house sales increased by 4.7% in May, while second hand house sales decreased by 12.3%.
- House sales to foreigners decreased by 46.9% in May, with Antalya, İstanbul, and Mersin being the top 3 destinations.
- Russia citizens bought the most houses from Türkiye in May, followed by Iran, Ukraine, and Germany.
Here are some additional insights from the data:
- The decrease in house sales in May is likely due to a number of factors, including rising interest rates, inflation, and the ongoing economic uncertainty in Turkey.
- The decline in mortgaged house sales is particularly concerning, as it suggests that fewer people are able to afford to buy a home.
- The increase in first time house sales is a positive sign, as it suggests that some people are still looking to buy a home despite the challenges in the market.
Finally, Check out the most suitable properties for your needs here.
Reference: https://www.tuik.gov.tr
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