Content:
- Top and bottom locations
- Mortgage transactions: 14,533
- Other transactions: 95,015
- Primary property sales: 31,641
- Secondary property sales: 77,907
- Sales to foreigners: 2,801
Top and bottom locations
According to the Turkish Statistical Institute (TÜİK), residential sales in Turkey in July 2023 increased by 16.7% compared to the same month last year and amounted to 109,548 units.
Istanbul had the highest share with 15,724 sales and 14.4% of the total. Turkey’s largest city is traditionally followed by Ankara with 9,688 sales and an 8.8% share. The top 3 is rounded out by İzmir with 5,203 sales and a 4.7% share.
The provinces with the fewest residential units sold were Ardahan (27), Hakkâri (40), and Tunceli (91).
As for the results for January through July, over 7 months, the volume of transactions decreased by 17.7% year-over-year, totalling 675,327.
Mortgage transactions: 14,533
Sales of mortgaged property in Turkey in July dropped 24.1% compared to the same month last year and amounted to 14,533 units. The share of mortgage transactions in the total volume of property sales in July was 13.3%.
From January through July, the number of mortgage transactions was down 28.2%, amounting to 136,063 over 7 months.
Other transactions: 95,015
The volume of non-mortgage property transactions in Turkey in July increased by 27.1% compared to the same month last year, amounting to 95,015 units. This is 86.7% of the total volume of transactions for July 2023. From January through July, 14.5% fewer properties were purchased in this category year-over-year, totalling 539,264 units.
Primary property sales: 31,641
In this segment, the number of sales in July increased by 10.3% compared to the same month last year, amounting to 31,641 units. The share of sales in new builds in the total volume reached almost a third, or 28.9%. However, from January through July, over 7 months, new-build sales decreased by 14.5% year-over-year, amounting to 202,799 units.
Secondary property sales: 77,907
Sales of secondary property in Turkey in July increased by 19.5% compared to the same month last year and amounted to 77,907 units. The share of this segment in the total volume of transactions is 71.1%.
However, over 7 months, the volume of secondary property transactions decreased by 19.0% year-over-year and amounted to 472,528 units.
Sales to foreigners: 2,801
The volume of property transactions concluded with nationals of other countries in July decreased by 28.9% compared to the same month last year and did not reach 3,000, totalling 2,801 units. This month, the share of property sales to foreigners in the total volume of transactions amounted to 2.6%.
Antalya accounted for the biggest volume with 996 sold residences (houses or apartments), second is Istanbul with 832, and third is Mersin with 263 sales.
From January through July, residential property sales to foreigners decreased by 43.9% year-over-year, totalling 22,076 units in 7 months.
As for the nationality of buyers, the leading country has remained unchanged for more than a year—the Russian Federation, whose citizens purchased 772 residential units in Turkey over a month. Iran comes second (272), Iraq is in third place (204), and Ukraine is in fourth (146).
