Content:
- Leading and lagging cities
- Mortgage transactions: 13,574
- Other categories of transactions: 120,581
- Primary home sales: 41,913
- Second home sales: 92,242
- Sales to foreigners: 2,257
Leading and lagging cities
According to official data announced by the Turkish Statistical Institute (TUIK), home sales in August 2024 increased by 9.9% compared to last year amounting to 134,155 units. Istanbul had the largest volume of transactions: 19,467. It is followed by Ankara (12,496) and Izmir (7,044). Hakkari, Ardahan, and Bayburt had the lowest number of homes sold in a month with 53, 93, and 116 units, respectively.
Mortgage transactions: 13,574
Home sales with mortgage loans throughout Turkey decreased by 17.1% in August compared to the same month last year: a total of 13,574 units. The share of mortgage deals in total housing sales for the month was 10.1%.
The decline in mortgage transactions in January-August amounted to 49.8% totaling 76,485 housing units in 8 months.
3,055 mortgage sales in August and 18,017 in January-August were for new buildings (primary housing).
Other categories of transactions: 120,581
The number of deals without mortgage loans in Turkey grew by 14.1% in August compared to the same month last year reaching 120,581 units. The share of such transactions in the total sales of residential projects for the month amounted to 89.9%.
The number of non-residential real estate sales in January-August went up by 13.2%: a total of 729,832 housing units.
Primary home sales: 41,913
The number of deals in the segment of new buildings throughout Turkey increased by 18.7% compared to the same month last year: 41,913. 31.2% was the proportion of new construction sales in the overall transaction volume.
The number of deals in the segment of new buildings in January-August grew by 7.5% compared to the first 8 months of last year, totaling 256,021 housing units.
Second home sales: 92,242
Secondayr property sales throughout Turkey increased by 6.3% in August compared to the same month last year — the total number was 92,242 units. The total volume of transactions in the secondary residential real estate segment was 68.8%.
The number of sales in this segment from January to August decreased by 1.6% compared to 8 months in 2023 totaling 550,296 units.
Sales to foreigners: 2,257
Home sales to foreigners in August decreased by 26.2% compared to last August amounting to 2,257 units. At the end of the month, foreign buyers accounted for 1.7% of all home sales in the total transaction volume.
Istanbul secured the top spot in the number of properties purchased by foreign buyers in August. It is followed by Antalya (696) and Mersin (174).
The volume of transactions with foreigners in January-August decreased by 40.0% compared to the same period last year totaling 15,068 housing units in 8 months.
Citizens of the Russian Federation purchased the most housing in August: 381 units. Citizens of Iran (171) and Ukraine (161) rank second.