House Sales Statistics, November 2023
93 thousand 514 houses were sold in Türkiye
Dive into the latest trends of the Turkish housing market! Explore our comprehensive analysis of House Sales Statistics for November 2023, revealing insights into prices, buyer behavior, and regional variations. Whether you’re a seasoned investor, a first-time homeowner, or simply curious about market dynamics, discover valuable statistics and expert takeaways, all in one place.
In Türkiye, house sales decreased by 20.6% in November compared to the same month of the previous year and became 93 thousand 514. İstanbul had the highest share with 16.2% and 15 thousand 187 house sales. The followers of İstanbul were Ankara with 8 thousand 250 house sales and İzmir with 5 thousand 105 house sales with the share of 8.8% and 5.5% respectively. The provinces with the lowest number of sales were Hakkari with 52, Ardahan with 57 and Gümüşhane with 73 house sales.
House sales, November 2023
Houses sales decreased by 14.9% in January-November 2023
In January-November period, house sales decreased by 14.9% compared to the same period of the previous year and became a million 87 thousand 349.
Mortgaged house sales became 5 thousand 245
In Türkiye, mortgaged house sales decreased by 68.5% in November compared to the same month of the previous year and became 5 thousand 245. Mortgaged house sales had 5.6% share of all house sales. In January-November period, mortgaged house sales decreased by 33.6% compared to the same period of the previous year and became 171 thousand 706.
A thousand 390 of mortgaged house sales in November and 51 thousand 624 of mortgaged house sales in January-November period were first sales.
Other house sales became 88 thousand 269
In Türkiye, other house sales decreased by 12.7% in November compared to the same month of the previous year and became 88 thousand 269. Other house sales had 94.4% share of all house sales. In January-November period, other house sales decreased by 10.2% compared to the same period of the previous year and became 915 thousand 643.
House sales by type, November 2023
30 thousand 472 houses were sold for the first time
In Türkiye, first time house sales decreased by 18.5% in November compared to the same month of the previous year and became 30 thousand 472. First sales had 32.6% share of all house sales. In January-November period, first time house sales decreased by 14.1% compared to the same period of the previous year and became 328 thousand 299.
Second hand house sales became 63 thousand 42
In Türkiye, second hand house sales decreased by 21.6% in November compared to the same month of the previous year and became 63 thousand 42. Second hand sales had 67.4% share of all house sales. In January-November period, second hand house sales decreased by 15.2% compared to the same period of the previous year and became 759 thousand 50.
House sales by state, November 2023
In November, 2 thousand 342 houses were sold to foreigners
House sales to foreigners decreased by 61.5% in November compared to the same month of the previous year and became 2 thousand 342. House sales to foreigners had 2.5% share of all house sales in November. Antalya ranked first with 790 sales to foreigners. The followers of Antalya were İstanbul with 710 house sales and Mersin with 316 house sales to foreigners.
House sales to foreigners, November 2023
In January-November period, house sales to foreigners decreased by 46.1% compared to the same period of the previous year and became 32 thousand 941.
In November, Russia citizens bought 637 houses from Türkiye. The followers of Russia citizens were Iran citizens with 234 house sales, Ukraine citizens with 128 house sales and Kazakhstan citizens with 117 house sales.
House sales were mostly made to Russia citizens according to nationalities
Key Takeaways:
- Market slowdown: Overall house sales in Türkiye dipped 20.6% compared to last year, reflecting a broader market trend.
- Regional differences: Istanbul dominated with the highest sales, while eastern provinces like Hakkari saw the least activity.
- Mortgage struggles: Mortgaged house sales plummeted 68.5%, indicating tighter lending conditions or shifting buyer preferences.
- New vs. pre-owned: Both first-time and second-hand sales declined, suggesting a cautious market across buyer segments.
- Foreign buyer slump: Sales to foreigners dropped significantly (61.5%), with Antalya, Istanbul, and Mersin remaining popular destinations.
- Nationality trends: Russian citizens topped the foreign buyer list, followed by Iranians, Ukrainians, and Kazakhs.
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Reference: https://www.tuik.gov.tr
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