Leader and anti-leader cities
According to recently published official data, 123,491 residential units were sold in the Republic of Turkey in August 2022. This is a 12.7% decrease compared to August 2021.
Istanbul recorded the highest share of transactions in August (18,485 sales, or 15%). The biggest Turkish metropolis in terms of transactions is followed by Izmir with 6,395 sales and a 5.2% share and Ankara with 9,736 sales and a 7.9% share.
Hakkari reported 41 housing units and Ardahan 63 housing units resulting in the lowest number of transactions) in Bayburt -101 housing units.
As a whole, the total volume of transactions in the country grew by 17.7% compared to the same 8 mth period in 2020 ( January to August - ), totaling 943,791 units.
Mortgage transactions: 22,168
When compared to the same period last year, mortgage home sales in Turkey fell by exactly 19% in August: 22,168 units. Mortgage sales reached 18% of the overall volume of transactions.
In comparison to the same period in 2021, the volume of residential real estate purchased with the use of mortgage lending rose by 39.1% from January to August, totaling 211,631 units.
There were 6,654 sales in August and 55,348 sales in the first eight months of 2022 for new buildings.
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Other transaction categories: 101,323
In August, there were 101,323 transactions without mortgage loans, which is 11.1% lower than in August 2021. These types of sales account for 82% of the overall volume.
A total of 732,160 non-mortgage transactions were reported from January to August, a 12.7% increase from the same period last year.
New property sales: 39,025
In Turkey, there were 39,025 new property sales in August. Compared to the previous August, this number dropped by 8.5%.
A total of 276,164 primary sales occurred during the first eight months of 2022, reflecting 31.6% of the overall volume of transactions for the year. This is a 13.6% increase compared to the same period last year.
Secondary property sales: 84,466
August also saw a 14.5% decline (84,466 units) in secondary housing sales in Turkey when compared to the same month last year.
The total sales share of these transactions was 68.4%.
In comparison to the same period last year, there were 19.5% more transactions for “resale” properties during the months of January through August, totaling 667,627 dwelling units.
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Sales to foreigners: 5,273
5,273 housing units in Turkey were sold to foreigners in August. Compared to August 2021, this indicator dropped by 10.1%. Sales to foreigners accounted for 4.3% of the total volume of transactions in residential real estate.
Antalya took first place with 1,814 transactions, followed by Istanbul, with 1,750 transactions, and then Mersin, with 317 transactions.
In the eight months from January to August, there were 44.6% more house sales to foreigners than there were during the same period last year, totaling 44,595 housing units sold.
Regarding the buyers’ nationalities, most of them are from the Russian Federation: in August, 1,238 homes in Turkey were purchased by Russian Federation residents. They are followed by citizens of Iran (633 units) and Iraq (417 units).