Content:
- The best and lagging cities
- Mortgage deals: 11,496
- Other categories of transactions: 115,592
- Primary home sales: 40,784
- Secondary housing sales: 86,304
- Sales to foreigners: 2,350
The best and lagging cities
According to the Turkish Statistical Institute, home sales in Turkey in July increased by 16% compared to the same month last year and reached 127,088 units. The provinces with the most transactions are Istanbul (19,047 housing units), Ankara (11,364) and Antalya (6,659). The smallest number of deals was recorded in Ardahan (61 housing units), Hakkari (64) and Bayburt (77).
The volume of transactions for the first seven months (January-July) is 0.5% lower than in the same period of 2023 totalling 672,162 units.
Mortgage deals: 11,496
Mortgage sales across Turkey decreased by 20.9% in July compared to the same month last year amounting to 11,496 units. The share of mortgage transactions in total home sales was 9.0%. The decrease in mortgage transactions in January-July amounted to 53.8% compared to the same period last year: 62,911 units.
2,786 housing units in July and 14,962 in January-July were concluded in new buildings with mortgages.
Other categories of transactions: 115,592
The number of non-mortgage deals was 115,592 housing units per month. This is a 21.7% increase this July compared to the same month last year. The share of such sales in the total volume of housing transactions is 91.0%. The volume of transactions in January-July increased by 13.0% compared to the same period last year totalling 609,251 units.
Primary home sales: 40,784
The number of housing units sold in the segment of new buildings throughout Turkey grew by 28.9% in July compared to July 2023 reaching 40,784. 32.1% of monthly transactions consist of sales for this type of housing. The number of housing units sold in January-July in this segment was 214,108, which is 5.6% more than in the same period last year.
Secondary housing sales: 86,304
Sales of second homes in Turkey rose by 10.8% in July compared to July 2023: 86,304 units. The share of such deals in total sales is 67.9%. The total volume of secondary transactions in the residential segment in January-July declined by 3.1% compared to seven months last year: 458,054 units.
Sales to foreigners: 2,350
The volume of transactions with foreign buyers in July decreased by 16.1% compared to last July totalling 2,350 housing units. During the month, the share of transactions with buyers from other countries in the total volume reached 1.8%. The provinces with the largest number of sales of residential real estate to foreigners were Antalya (878), Istanbul (752) and Mersin (218).
By country of origin: the highest number of home purchases were made by citizens from the Russian Federation (485), Ukraine (171) and Germany (162).