Content:
- Mortgage transactions: 9,909
- Other transaction categories: 100,679
- Primary housing sales: 35,558
- Secondary housng sales: 75,030
- Sales to foreigners: 2,064
According to official data from the Turkish Statistical Institute (TÜIK), housing sales in May 2024 decreased by 24% compared to the previous year, totaling 110,588 units. The majority of sales occurred in Istanbul, with 18,814 units sold. Following Istanbul were Ankara with 9,861 units and Antalya with 6,306 units. The provinces with the fewest sales in May were Bayburt (37 units), Ardahan (46 units), and Hakkari (60 units).
From January to May, there was a 34% decline in sales, totaling 465,761 units over five months.
Mortgage transactions: 9,909
TÜIK statistics show that mortgage housing sales dropped by 639% in May compared to the same month last year, with a total of 9,909 units. Mortgage transactions accounted for 9% of the total housing sales for the month.
From January to May, mortgage sales decreased by 587%, totaling 44,602 units. Of these, 2,316 mortgage sales in May and 10,629 from January to May were for new homes.
Other transaction categories: 100,679
Non-mortgage sales increased by 173% in May compared to the same month last year, reaching 100,679 units. This segment accounted for 91% of total transactions.
From January to May, the total number of non-mortgage sales was 421,159, an increase of 126% compared to the same period last year.
Primary housing sales: 35,558
The number of transactions in the new housing segment across Turkey in May rose by 33% compared to May 2023, totaling 35,558 units. New home sales accounted for 32.2% of total transactions.
From January to May, the number of such transactions increased by 18% compared to the same period last year, totaling 148,899 units.
Secondary housng sales: 75,030
Sales of existing homes throughout Turkey in May decreased by 49% compared to the same month last year, totaling 75,030 units. Secondary housing transactions accounted for 67.8% of total sales for the month.
From January to May, the number of sales in this segment decreased by 56% compared to the first five months of 2023, with a total of 312,862 units.
Sales to foreigners: 2,064
Housing sales to foreigners in May decreased by 348% compared to May of the previous year, totaling 2,064 units. Foreign purchases accounted for 1.9% of total transactions in May. Antalya led in sales to foreign investors with 797 units, followed by Istanbul (668 units) and Mersin (164 units).
From January to May, sales to foreigners decreased by 458%, totaling 9,021 units for the period. The largest number of purchases in May was made by Russian citizens (437 units), followed by Iranian (207 units) and Ukrainian (171 units) buyers.