Türkiye Housing Sales Rise 10% & Foreign Demand Drops 26%

According to data released by the Turkish Statistical Institute (TurkStat), housing sales across Türkiye increased by 9.9% in August compared to the same period last year, reaching 134,155 units.

In the January-August period, total housing sales increased by 1.1%, reaching 806,317 units. Istanbul had the highest share with 19,467 housing sales, followed by Ankara with 12,496 and Izmir with 7,044 sales. Hakkari, Ardahan and Bayburt recorded the lowest housing sales.

Housing sales to foreigners decreased by 26.2% in August compared to the same period last year, dropping to 2,257 units. The share of housing sales to foreigners within total sales was calculated as 1.7%. In terms of foreign sales, Istanbul ranked first with 838 houses sold, followed by Antalya with 696 and Mersin with 174 houses.

In the January-August period, sales to foreigners decreased by 40%, dropping to 15,068 units. Russian nationals were the top property buyers among foreign nationals.

In August, mortgaged housing sales dropped by 17.1% compared to the same month last year, falling to 13,574 units. In the January-August period, mortgage sales decreased by 49.8%, totaling 76,485 units. Of the mortgaged housing sales in August, 3,055 were first-hand sales, compared to 18,017 in the January-August period. First-hand housing sales across Türkiye increased by 18.7% on an annual basis in August, reaching 41,913 units. First-hand housing sales accounted for 31.2% of total sales. In the January-August period, first-hand housing sales increased by 7.5%, reaching 256,021 units.

Second-hand housing sales increased by 6.3% in August, reaching 92,242 units. In the January-August period, second-hand housing sales decreased by 1.6% compared to the same period last year, totalling 550,296 units.