Leading cities and last-named cities
According to Turkish data experts, in September 2022, 113,402 residential real estate units were sold in the country.
Istanbul leads in transactions with 19,089 housing units and a share of 16.8% of the total units. Istanbul is followed by Ankara with 8812 homes sold which has a 7.8% share, and Izmir with 6338 sales with a 5.6% share.
The smallest number of transactions took place in Hakkari (40 residential units), Ardahan (49) and Gumushan (98).
According to the published official data, the trend fall compared to September last year reached 22.9%. However, from January to September (nine months) the total sales increased by 11.4% compared to the same period in 2021: 1,057,193 real estate units for three quarters.
Mortgage transactions: 16 970
Residential property mortgage sales in Turkey during September 2022 decreased by 43.0% compared to September of the previous year when 16,970 units were sold. The share of residential mortgage sales within the total volume of transactions amounted to 15.0%.
From January to September, sales in this segment increased by 25.7% to 228,601 units.
Comparatively, 5,429 mortgage transactions were recorded in September and from January to September, 60,777 were newly constructed premises.
Other transaction categories: 96 432
Transactions without rising mortgage loans in Turkey during September were 17.8% less than in September 2021: 96,432. The share of such sales within the total amount is 85.0% currently.
Let us clarify that, from January to September, the amount of non-mortgage transactions, although not much (by 8.0%), increased compared to January to September 2021: 828,592 units in nine months.
New residential real estate sales: 35 954
The number of transactions in the segment of newly constructed developments affected 35,954 residential real estate units. This is 18.2% less than in the same month last year.
The share of new housing sales in the month's total volume amounted to 31.7%. From January to September, the amount of sold lots within new building developments increased by 8.7% compared to the same period last year, reaching 312,118 units.
Existing residential real estate sales: 77 448
The sale of existing homes in Turkey during September 2022 decreased by 24.9% compared to the same month of the previous year and amounted to 77,448 units.
The share of existing housing sales within the total amount of transactions for the last month was 68.3%.
From January to September, 745,075 second-hand lots were sold, which is 12.6% more than during the same period in 2021.
Foreign transactions: 5049
In September, foreigners purchased 5,049 housing units in Turkey. This is 23.8% less than in September 2021. The share of transactions with citizens of other countries within the total amount of sales for residential real estate amounted to 4.5%.
In first place in terms of the amount of housing purchased by foreigners is Istanbul (1795 sales), Antalya came in second with 1585 sales and Mersin came in third with 335 sales.
The number of transactions concluded with foreigners in the first three quarters of 2022 (from January to September) increased by almost one-third: by 32.5%, for a total of 49,644 sales during the first nine months.
Most houses in September were purchased by Russian Federation citizens: 1196 houses or apartments, followed by citizens of Iran (592) and Iraq (433).