In June 2023, detailed statistics on residential real estate transactions in Istanbul have been released. The results of this are as follows: In Turkey's largest metropolis, 13,578 housing units were bought and sold, accounting for over one-sixth of the total number of transactions in the country.
Out of these transactions, 2,148 housing units were purchased with the involvement of mortgage lending, while 11,430 units were purchased without a mortgage. This indicates that buyers are becoming less reliant on banks and instead they use their own savings.
In terms of the type of housing, 3,780 units were from new developments, while 9,798 units were from the secondary market.
Foreign investors continue to show interest in Istanbul, with 760 residences being purchased by citizens of other countries in the past month. This is out of a total of 2,625 residences acquired throughout the country, with Istanbul only being surpassed by Antalya in terms of foreign purchases. Russians are among the top buyers in Istanbul, consistently leading in transaction volume for over 15 months.
For more information on sales volumes in Turkey for the first half of the year, please refer to this link.