December 2022 turned out to be the most successful in terms of the number of transactions without mortgage lending: after all, in the current economic situation, people are trying to get as little as possible dependent on bank loans. And, as they say in Turkey, «they gut pillows and mattresses».
So, in December 2020, 91,350 non-mortgage transactions took place; in December 2021 - 181,243, which is twice as much. Well, the figures for December 2022 are even higher: 186,167.
By the way, last December was the second most successful in the last 25 months - from December 2020 to January 2023: during these two years plus one month, the most sales in the residential real estate segment were recorded in December last year - 226,503 transactions. In December 2022, this figure is 207,963.
All the other months showed the result much «weaker». The third in terms of sales for 25 months was November 2021, about 180 thousand; all other months showed much more modest figures - 150-160 thousand housing units and less.
Read the detailed sales report for December 2022 here.
The players of the sphere believe that the coming year - 2023 - will be truly golden for the real estate sector. Not to mention the fact that Turkey is the world leader in house price growth for 2.5 years: residences in Istanbul are becoming more expensive than in Miami.