Content:
- City leaders and laggards
- Mortgage transactions: 6,042
- Other categories of transactions: 132,535
- New build sales: 51,243
- Resale housing sales: 87,334
- Sales to foreigners: 2,064
- Buyer demographics
City leaders and laggards
Annual figures
As per the Turkish Statistical Institute (TUIK), housing sales in Turkey decreased by 17.5% in 2023 compared to the previous year, totalling 1,225,926 units. Istanbul led the annual sales with 198,739 units, representing 16.2%. Ankara followed with 114,432 units (9.3%) and Izmir with 65,465 units (5.3%). The provinces with the fewest sales were Ardahan (426 units), Hakkari (501) and Tunceli (970).
December figures
Housing sales across Turkey in December decreased by 33.4% year-over-year, totalling 138,577 units. Istanbul topped the list with 23,714 sales (17.1%), followed by Ankara with 11,458 (8.3%) and Izmir with 7,166 (5.2%). The province with the fewest transactions was Hakkari, with only 65 sales.
Mortgage transactions: 6,042
Mortgage-based housing sales in Turkey decreased by 72.3% in December compared to the same month last year, totalling 6,042 units. Overall, mortgage sales in 2023 decreased by 36.6% compared to 2022, amounting to 177,748 units. Mortgage transactions accounted for 4.4% of total sales in December and 14.5% in 2023. Among these, 1,831 mortgage deals were made in December and 53,455 were recorded throughout the year for new builds.
Other categories of transactions: 132,535
Non-mortgage transactions in Turkey decreased by 28.8% in December year-over-year, reaching 132,535 units. There was a 13.0% decrease in non-mortgage sales over the year, totalling 1,048,178 units. These transactions represented 95.6% of total sales in December and 85.5% for the entire year of 2023.
New build sales: 51,243
Transactions in the new build segment across Turkey decreased by 34.2% in December compared to the same month the previous year, totalling 51,243 units. The total volume of new build sales in 2023 was 379,542 units, marking a decrease of 17.5% from 2022. New build sales accounted for 37.0% of all transactions in December and 31.0% over the 12 months.
Resale housing sales: 87,334
In December, resale housing sales across Turkey saw a 32.9% year-over-year decrease, totalling 87,334 units. Throughout 2023, the transaction volume in the resale segment decreased by 17.5% compared to 2022, with a total of 846,384 units. Resales constituted 63.0% of total transactions in December and 69.0% in 2023.
Sales to foreigners: 2,064
In 2023, housing sales to foreigners experienced a significant decline, decreasing by 48.1% compared to the previous year, with a total of 35,005 units. Sales to foreign buyers represented 2.9% of the total transaction volume for the year. Antalya led in sales to foreigners for the entire year, recording 12,702 housing units, followed closely by Istanbul with 11,229 and Mersin with 3,016.
In December, transactions with foreigners decreased by 67.7% compared to the same month in 2022, totalling 2,064 units. Sales to foreigners accounted for 1.5% of the total transaction volume for the month. Istanbul saw the most transactions with 796 housing units, followed by Antalya with 609 and Mersin with 230.
The top buyers in 2023 were citizens from Russia (10,560 units in 2023), Iran (4,272) and Iraq (1,917). In December, Russians purchased 527 residences, Iranians bought 205 and Ukrainians acquired 113, leading the monthly figures.
Buyer demographics
In Turkey, in 2023, women acquired 401,933 housing units (32.8% of total transactions), while men acquired 690,438 units (56.3%). Joint ownership accounted for 19,610 residences (1.6%). The remaining sales fall under other transaction categories (such as purchases by multiple owners, etc.).