City leaders and anti-leaders
According to the data released by the Turkish Statistical Institute (TÜIK), the sales of residential real estate in Turkey during the month of October 2022, decreased by 25.3% compared to the same month last year which amounted to 102,660 units. The largest share of sales belongs to the country’s largest metropolis, Istanbul: 16,987, or 16.5%. In terms of the number of transactions, Ankara ranks next with 8,146 sales (7.9%) and Antalya with 6,323 sales (6.2%). Hakkari (30), Ardahan (42) and Bayburt (69) were the cities with the lowest number of residential real estate units sold.
From January to October, sales increased by 6.7% compared to the same period in 2021. The total number of lots sold in 10 months was 1,159,853 units.
Mortgage transactions: 13,268
The number of mortgage transactions has reached 13,268. This is 52.7% less than in October last year. The share of sales with mortgage loans within the total volume was 12.9%.
Over ten months of the year (January to October), the number of such sales increased by 15.2% compared to the same period in the year 2021: a total of 241,869 transactions.
Of these, 4,260 sales were in October and 65,037 within 10 months were new buildings.
Other categories of transactions: 89,392
89,392 housing units were purchased without mortgage loans. During this segment in Turkey in the month of October, the volume of transactions decreased by 18.3% compared to the same month of the previous year. The share of non-mortgage sales within the total volume was 87.1% for the month.
Sales without mortgage loans increased by 4.7% in 10 months compared to the same period of the previous year, reaching 917,984.
Primary home sales: 32,692
In October, Turkey sold 32,962 residences. This is 22.0% less than in the same month of the year 2021. The share of primary home sales within the total volume of transactions this month is 31.8%.
From January to October, primarily real estate sales increased by 4.8% compared to last year: 344,810 units.
Secondary home sales: 69,968
69,968 housing units changed hands. Secondary housing sales in Turkey during October decreased by 26.7% compared to last year’s last month. The share of such transactions within the total volume was 68.2%. Between January and October, secondary housing sales grew by 7.6% compared to the same period of the previous year: 815,043.
Sales to foreigners: 5,377
In October 2022, foreigners purchased 5,377 housing units in Turkey. This is 8.8% less than in October of 2021. In October, the share of housing sales to foreigners within the total volume of transactions amounted to 5.2%.
Antalya ranked first with 2,123 lots, followed by Istanbul (1,658) and Mersin (490).
Sales to foreign buyers during the 10 months of 2022 rose by 26.9% compared to the same period last year to 55,021 units.
As for nationality, the citizens of the Russian Federation have purchased the most housing yet again, which were 2,023 houses or apartments. They are then followed by Iran (498), Iraq (310) and Ukraine (216).