Leading cities and anti-leaders
In May 2022, 122,768 residential real estate units were sold in Turkey. This is 107.5% more than in the same month of 2021.
The most transactions took place in Istanbul: 22,148, or 18.0%. Ankara is in second place: 11,497 sales (9.4% of their total number), Izmir is in third place: 7,159 sales, or 5.8%.
The smallest number of transactions took place in Hakkari (21), Ardahan (43) and Bayburt (75).
During the period from January to May, the volume of housing sales increased by 37.7% compared to the first five months of last year: a total of 575,889 residential units of residential real estate were sold during this time.
Mortgage transactions: 29,335
The volume of mortgage sales for the month of May amounted to 29,335 units. This is 177.8% more compared to the same month last year. The share of mortgage transactions in the total volume of housing sales for the month is 23.9%.
During the period from January to May, the number of mortgage sales immediately increased by 72.3% compared to the same period of the previous year and amounted to 129,707 residential units.
Of these apartments in new buildings, 6,161 residential units were purchased for a mortgage in May 2022, and 31,885 – for the period from January to May.
Other categories of transactions: 93,433
Other types of transactions (non-mortgage) were 93,433. This is 92.2% more than in May 2021. The share of sales without mortgage loans in the total volume of housing sales was 76.1%.
From January to May, the number of mortgage transactions reached 446,182, or plus 30.2% by January-May 2021.
Primary housing sales: 32,861
The number of purchased residential units in new buildings is 32,861. This figure in May increased by 80.5% compared to the same month last year. The share of first-hand home sales in the total volume was 26.8%.
In January-May, the number of such transactions increased by 28.1% compared to the same period of the previous year, totaling 163,719.
Secondary housing sales: 89,907
Sales of second homes in Turkey in May increased by 119.5% compared to the same month last year and amounted to 89,907 residential units. The share of this type of transactions in the total volume of housing sales amounted to 73.2%.
The number of secondary sales for the period from January to May increased by 42.0% compared to the same period of the previous year, reaching 412,170.
Sales to foreigners: 5,962
The number of apartments and houses purchased by citizens of other states increased by 235.7% compared to the same month last year: 5,962 residential units. In May, the share of housing sales to foreigners in the total volume of transactions amounted to 4.9%.
In the first place is the largest metropolis of Turkey, Istanbul: 2,451 residential units. Antalya is in second place with 1,885 sales, Mersin is in third place with 264 sales.
The volume of sales of residential real estate to foreigners in January-May increased by 70.0% compared to the same period in 2021. The total number of residential units purchased by them in five months was 26,753.
The most buyers turned out to be from Europe: Europeans purchased 1,275 apartments or houses in Turkey in May. In second place, there are citizens of Iran (736 residential units), in third – Iraq (617 residential units).