Home sales in 2022 decreased by 0.4% in comparison to the previous year, amounting to 1,485,622 units. This is according to a report from the Turkish Institute of Statistics.
Leading cities and anti-leaders
Istanbul has the highest sales at 259,654 units for the year or 17.5%. Istanbul is followed by Ankara which has recorded 126,166 sales and a share of 8.5%, as well as Izmir with 83,502 sales and a share of 5.6%. The provinces with the lowest number of sales were Ardahan with 468, Hakkari with 910 and Bayburt with 956 housing units.
In December 2022 a total of 207,963 housing units were sold in the Republic of Turkey. This is 8.2% less than in December 2021. Istanbul had the highest share of transactions, with 36,744 sales or 17.7%. Regarding sales, Istanbul is followed by Ankara with 16,365 or 7.9% and Antalya with 11,168 or 5.4%. Ardahan was the province with the lowest sales with 58 lots per month.
Mortgage transactions: 21,796
Mortgage loan sales in Turkey in December fell by 51.8% in comparison to last year with 21,796 units. On the other hand, mortgage transactions in 2022 were only 4.8% less than in the previous year with 280,320 in 12 months. The number of mortgage sales within the total volume of housing transactions was recorded at 10.5% in December alone and 18.9% in 2022.
Of these, 6,971 of the mortgage sales in December and 77,141 in 2022 came from the purchase of new buildings.
Other categories of transactions: 186,167
In December 2022, a total of 186 167 housing units were purchased without mortgage loans. In December, when considering this category in Turkey, sales increased by 2.7% compared to the same month of 2021, or a total of 0.7% if make the comparison between 2022 and 2021 in totality.
Mortgage-free transactions reached 1,205,302 units in 12 months. The share of non–mortgage sales in the total volume of transactions was 89.5% in December alone and 81.1% in 2022.
Primary home sales: 77,889
In December 2022, a total of 77,889 primary homes were sold in Turkey, 1.5% more than in December of the previous year.
The total volume of primary real estate sales for 2022 decreased by 0.3% compared to 2021 and amounted to 460,079 units.
The share of home sales in the total volume of transactions for December 2022 was 37.5% and 31.0% for 2022 in its entirety.
Secondary home sales: 130,075
When considering secondary housing sales in Turkey, in December the total number of transactions decreased by 13.1% when compared to the same month last year- a total of 130,074 units. For the year, a decrease of 0.5% was recorded in comparison to 2021: 1,025,543 transactions for the year. The share of secondary housing sales in the total volume of transactions is 62.5% in December and 69.0% in 2022.
Sales to foreigners: 6,386
Home sales to non-natives in December 2022 fell by 18.6% compared to December of last year, amounting to 6386 units. In December, the share of housing sales to citizens of other countries in the total volume of transactions was 3.1%.
In December, Antalya ranked first in sales with 2,465 housing units. Antalya is followed by Istanbul with 1,968 sales, and Mersin with 663 sales.
In total, foreigners purchased 67,490 houses in 2022. This is 15.2% more than in 2021. At the end of the year, the share of housing sales to foreign investors in the total volume of transactions amounted to 4.5%. Most of the lots in the 12 months of 2022 were sold to foreigners in Istanbul with a recorded 24,953. This was followed by Antalya with 21,860 and Mersin with 4,316.
In December, Russian citizens bought 2,403 housing units in Turkey, followed by Iranian citizens with 675 and Iraqi citizens with 345.
If we evaluate the indicators for the year, the most residential real estate in 2022 was sold to Russian citizens with a total of 16,312 lots. Iranian citizens purchased 8,223 and Iraqi citizens purchased 6,241 housing units.
Summing up the results of the year, analysts clarified that in 12 months, a total of 484,654 housing units or 32.6% were purchased by women, and men accounted for 821,132 or 55.3%. 24,193 units or 1.6% of residences were bought as joint property. The rest was distributed among other types of transactions such as several owners, children and so on.