House Sales Statistics, October 2023
93 thousand 761 houses were sold in Türkiye
The real estate sector in Turkey revealed nuanced trends in October 2023, as showcased by the latest house sales statistics. Amidst a landscape of shifting market dynamics, the month saw a notable 8.7% decline in total house sales compared to the previous year, signaling fluctuations in property acquisition patterns. Major cities such as Istanbul, Ankara, and Izmir emerged as focal points of housing transactions, while distinct contrasts surfaced between the performance of mortgaged and other types of house sales. This period’s data not only highlighted the ever-changing preferences between first-time and second-hand purchases but also indicated a significant downturn in sales to foreign investors, painting a broader picture of the evolving real estate climate in Turkey during late 2023.
In Türkiye, house sales decreased by 8.7% in October compared to the same month of the previous year and became 93 thousand 761. İstanbul had the highest share with 15.9% and 14 thousand 941 house sales. The followers of İstanbul were Ankara with 7 thousand 394 house sales and İzmir with 5 thousand 192 house sales with the share of 7.9% and 5.5% respectively. The provinces with the lowest number of sales were Hakkari with 40, Ardahan with 43 and Bayburt with 80 house sales.
House sales, October 2023
Houses sales decreased by 14.3% in January-October 2023
In January-October period, house sales decreased by 14.3% compared to the same period of the previous year and 993 thousand 835.
Mortgaged house sales became 5 thousand 577
In Türkiye, mortgaged house sales decreased by 58.0% in October compared to the same month of the previous year and became 5 thousand 577. Mortgaged house sales had 5.9% share of all house sales. In January-October period, mortgaged house sales decreased by 31.2% compared to the same period of the previous year and became 166 thousand 461.
A thousand 369 of mortgaged house sales in October and 50 thousand 234 of mortgaged house sales in January-October period were first sales.
Other house sales became 88 thousand 184
In Türkiye, other house sales decreased by 1.4% in October compared to the same month of the previous year and became 88 thousand 184. Other house sales had 94.1% share of all house sales. In January-October period, other house sales decreased by 9.9% compared to the same period of the previous year and became 827 thousand 374.
House sales by type, October 2023
29 thousand 230 houses were sold for the first time
In Türkiye, first time house sales decreased by 10.6% in October compared to the same month of the previous year and became 29 thousand 230. First sales had 31.2% share of all house sales. In January-October period, first time house sales decreased by 13.6% compared to the same period of the previous year and became 297 thousand 827.
Second hand house sales became 64 thousand 531
In Türkiye, second hand house sales decreased by 7.8% in October compared to the same month of the previous year and became 64 thousand 531. Second hand sales had 68.8% share of all house sales. In January-October period, second hand house sales decreased by 14.6% compared to the same period of the previous year and became 696 thousand 8.
House sales by state, October 2023
In October, 2 thousand 535 houses were sold to foreigners
House sales to foreigners decreased by 52.9% in October compared to the same month of the previous year and became 2 thousand 535. House sales to foreigners had 2.7% share of all house sales in October. Antalya ranked first with 931 sales to foreigners. The followers of Antalya were İstanbul with 758 house sales and Mersin with 294 house sales to foreigners.
House sales to foreigners, October 2023
In January-October period, house sales to foreigners decreased by 44.4% compared to the same period of the previous year and became 30 thousand 599.
House sales were mostly made to Russia citizens according to nationalities
In October, Russia citizens bought 713 houses from Türkiye. The followers of Russia citizens were Iran citizens with 235 house sales, Germany citizens with 152 house sales and Ukraine citizens with 138 house sales.
House sales by nationalities for top 20, October 2023
Key Takeaways:
- Overall Sales Decline: Total house sales in Turkey dropped by 8.7% compared to the previous year, amounting to 93,761 houses sold.
- Mixed Sales Trends: While there was a substantial decline in mortgaged house sales by 58.0%, other house sales decreased only slightly by 1.4%.
- New vs. Second-hand Sales: First-time house sales decreased by 10.6%, whereas second-hand house sales saw a smaller decline of 7.8%.
- Foreign Investor Activity: House sales to foreigners reduced significantly by 52.9%, with Russians leading in the number of purchases.
- Yearly Trends: Over the January-October 2023 period, there was a consistent decline in all categories of house sales, notably by 14.3% overall and 44.4% in sales to foreigners.
- Regional Dynamics: Istanbul maintained its lead in sales volume, followed by Ankara and Izmir, while Antalya stood out as the preferred destination for foreign buyers.
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Reference: https://www.tuik.gov.tr
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