Content:
- Leading and lagging cities
- Mortgage transactions: 15,825
- Other categories of transactions: 125,094
- Primary home sales: 44,858
- Second home sales: 96,061
- Sales to foreigners: 2022
Leading and lagging cities
As per the Turkish Statistical Institute (TUIK), housing transactions in September 2024 saw a surge of 37.3% compared to the previous year reaching a total of 140,919 units. The highest number of transactions in Istanbul occurred with the sale of 21,314 housing units. Ankara and Izmir hold the second position with populations of 13,205 and 7,612 respectively. Hakkari, Ardahan and Bayburt had the lowest number of deals in a month, with 74, 82, and 106 housing units sold, respectively.
There was a 5.2% rise in transactions between January and September compared to the same nine-month period last year totalling 947,236 units.
Mortgage transactions: 15,825
Mortgage sales in Turkey in September rose by 87.4% compared to the same month last year amounting to 15,825 units.
The share of mortgage deals in total home sales amounted to 11.2%. The volume of mortgage sales in January-September decreased by 42.6% compared to the same period last year reaching a total of 92,310 units.
3,685 units were in September 2024, with 21,702 falling on new buildings (primary housing) in the period from January to September.
Other categories of transactions: 125,094
The total number of non-mortgage deals in Turkey rose by 32.8% reaching 125,094 units in total. 88.8% of residential real estate sales were made up of these transactions in September.
There was a 15.7% rise in non-residential sales between January and September totalling 854,926 housing units.
Primary home sales: 44,858
There was a 47.1% rise in the number of deals for new buildings across Turkey totalling 44,858 housing units. 31.8% of the total transaction volume comes from primary sales.
Primary home sales rose by 12.0% between January and September compared to the same period in 2023 reaching a total of 300,879 units.
Second home sales: 96,061
There was a 33.1% rise in the number of deals in the secondary housing market reaching 96,061 units monthly. 68.2% of the total volume of transactions in September was contributed by the secondary residential real estate segment.
There was a 2.4% growth in transactions in this category during the first nine months of the year compared to the same period last year totalling 646,357 units.
Sales to foreigners: 2022
There was a 31.0% decrease in sales of residential real estate to foreign citizens in September 2024 compared to the same month last year totalling 2022 units.
The share of housing sales to foreigners in the total volume for the month is 1.4%.
The highest number of apartments and houses in Istanbul (783), Antalya (548) and Mersin (210) were bought by overseas buyers.
There was a 39.1% drop in the number of deals with foreigners between January and September totalling 17,090 units in the first nine months of 2024.
The highest number of housing units, 346, was bought by residents of the Russian Federation in September. They are followed by Iranians (163) and Iraqis (139).