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Sales leaders and anti-leaders
In March 2021, 111,241 housing units were sold in the Republic of Turkey. This is 2.4% more than in March 2020. The three leading cities in the most of the categories remain unchanged.
So, in terms of the total number of sales, Istanbul traditionally takes the first place with 22,007 units of residential real estate or 18.9% of the total sold in this city. Ankara comes the second with 11,003 units (9.9%). Izmir is the third with 6,636 property transactions or 6% of the total.
The anti-leader cities include Tunceli (52 deals), Hakkari (16 deals) and Ardahan (15 deals).
Mortgage transactions
Mortgage apartment sales in March reached the level of 21,815 units, which is 49.7% less than in the same period a year earlier. The share of mortgage transactions amounted to 19.6% of the total. Istanbul heads the list of cities with the highest number of mortgage sales with 4,643 transactions or 21.3% of all home sales on a mortgage. The lowest number of mortgage sales was registered in Hakkari - only one mortgage transaction in March.
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Other types of deals
Other categories of property transactions (without mortgages) accounted for 89,426 housing units. This is 36.9% more than in March 2020.
Three cities with the largest number of residential property sales without a mortgage include:
Istanbul - 17,364 (19.4%);
Ankara - 8,224;
Izmir - 5,158.
The lowest number of non-mortgage transactions was registered in Ardahan - 13 sales. This is two times less than the “anti-leader” stats in February, which was 26 sales in Bayburt.
New home sales
In comparison with March 2020, the sales of newly built homes slightly decreased - by 2.1%. The share of new home sales remained almost the same in comparison with February 2021 amounting to 31%.
In total, 33,365 units of new housing were sold in March.
Top cities:
- Istanbul (6,317 transactions, 18.9%);
- Ankara (2,098 transactions);
- Izmir (1,836 transactions).
Secondary housing sales
In March 2021, 77,876 properties were resold. Compared to March 2020, a slight increase was recorded - 4.4%.
Three leading cities:
- Istanbul with 15,690 housing units sold (20.1% of the total volume of secondary housing sold in March)
- Ankara (8,905 housing units)
- Izmir (4,800 housing units).
Results of the first quarter 2021
From January to March, residential property sales decreased by 22.9% compared to the same period in 2020. The grand total of the first three months is 263,050 housing units, which is 22.9% less compared to January-March 2020.
Mortgage sales fell to 47,216 units in three months (-63.5% compared to January-March last year), but sales without mortgage loans increased slightly: 215,843 transactions or + 1.9%.
New home sales decreased by a quarter in the first three months (-25.2%, a total of 80,370 units sold in January-March). Resale property sales decreased by 21.8% (total 182,680 units).
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Home sales to foreigners
In March, residents of other countries purchased 4,248 apartments and houses in Turkey. This is 39.9% more than in March 2020.
Top five cities with the highest number of property sales to foreigners include:
- Istanbul (2,119 transactions);
- Antalya (889 transactions);
- Ankara (252 transactions);
- Mersin (184 transactions);
- Yalova (129 transactions).
Home sales to foreigners in January-March decreased by 9.7% compared to the same period last year. The total volume of housing sold in this segment for the first quarter of 2021 is 9,887 units.
Which countries were the top buyers of real estate in Turkey in March?
Iran again took the first place with 663 transactions. It is followed by Iraq with a minimum lag - 644 transactions. Russians and residents of Afghanistan purchased 419 and 302 housing units respectively. Kazakhstan took the last place in the top five buyers in March with 166 deals.
Check out the sales statistics for January 2021 here, for February - here.