Leading cities and anti-leaders
According to official data recently received, residential real estate sales in Turkey in November decreased by 34.1% compared to November last year which amounted to 117,806 units.
Most transactions were recorded in Istanbul with 19,687 sales, which amounts to 16.7%. Next on the list is Ankara with 9367 sales and a share of 8.0%, as well as Antalya with 7902 sales and a share of 6.7%. The provinces with the fewest transactions in November were Hakkari with 34 units, Ardahan with 47 units and Bayburt with 58 units.
Residential property sales increased by 1.0% between January and November 2022 compared to the same months of 2021, reaching 1,277,659 units.
Mortgage transactions: 16 655
The number of mortgage transactions is 16,655. This is 57.7% less than in November last year. The share of sales involving mortgage lending in the total amount was 14.1%.
Simultaneously, in the period from January to November, the number of such sales increased by 3.7% compared to the same period in 2021 which amounted to a total of 258,524 transactions.
Of these, 5,133 sales were recorded in November and 70,170 in those eleven months were new buildings.
Other transactions: 101 151
101,151 housing units were purchased without mortgage lending. During this segment in Turkey, sales in November decreased by 27.5% compared to the November of the previous year. The share of non-mortgage sales in the total amount reached 85.9% for the month.
Sales without mortgage lending increased over the eleven months by 0.3% compared to the same period of the previous year which was a total of 1,019,135 from January to November.
Primary housing sales: 37 380
In November, 37,380 units of first-time purchased housing were sold in Turkey, which is 32.9% less than in November 2021. The share of real estate sales "first hand" in the total amount of transactions this month is 31.7%.
For the period from January to November, sales of "primary" decreased by 0.7% compared to last year which amounted to 382,190 units.
Secondary housing sales: 80 426
80 426 houses changed hands in the sale of secondary housing.
Sales of existing homes in Turkey in November decreased by 34.7% compared to the November of last year and amounted to 80,426 units. The share of such transactions in the total amount of housing sales amounted to 68.3%. Sales in this segment from January to November increased by 1.7% compared to the same period last year and amounted to 895,469 units.
Sales to foreigners: 6083
In November 2022, foreigners purchased 6,083 apartments or houses in Turkey which is 17.4% less than in the same month of 2021. Nevertheless, in November the share of housing sales to foreigners in the total amount of transactions remained at the level of October which was 5.2%.
Antalya took first place with 2616 sold lots, followed by Istanbul with 733 lots and Mersin with 567.
The sales of housing to citizens from other countries for eleven months of 2022 increased by 20.4% compared to the same period last year which amounted to 61,604.
Depending on the nationality of the country, most transactions were made by citizens of the Russian Federation with 2575 transactions, followed by Iran with 510 purchases, Iraq with 331 and Ukraine with 277.