March 2024 was a showcase month for residential property sales in Turkey: the total slump in deals, which began last autumn (winter stagnation and uncertainty in the run-up to the March elections), decreased to a minimum of 0.1% this month compared to March 2023. Although people trust mortgages less and less.
Here are the exact numbers for different categories:
Transactions for the month — 105,394 compared to last March — 105,476 (-0.1%).
- Mortgage sales — 12,880 compared with 25,262 last March (-49.0%);
- Non-mortgage sales — 92,514 compared with 80,214 (+15.3%);
- New construction segment — 34,399 compared with 32,899 (+4.6%);
- Secondary real estate sales — 70,995 in compared with 72,577 (-2.2%);
Transactions for the first quarter of 2024 (January-March) — 279,604 compared with 283,215 for the first quarter of 2023 (-1.3%).
- Mortgage sales — 27,622 compared with 58,822 (-53.0%);
- Non-mortgage sales — 251,982 compared with 224,393 (+12.3%);
- New construction segment — 88,256 compared with 83,907 (+5.2%);
- Secondary real estate sales — 191,348 compared to 199,308 (-4.0%).