Highest- and lowest-selling cities
In June 2022, 150,509 residential units were sold in Turkey. June sales were 11.7% higher than on the same month last year.
Istanbul boasts the best performance with 27,988 sales transactions and accounts for 18.6% of their total number.
Istanbul is followed closely by Ankara (13,303 transactions, an 8.8% share) and İzmir (8,243 transactions, a 5.5% share).
Hakkâri (40 residential units), Ardahan (44), and Bayburt (90) were the lowest-selling cities in June.
The sales volume increased by 31.4% from January through June compared to the same period of 2021. The total number of transactions over the first half-year was 726,398 units.
Mortgage transactions: 40,610
The number of mortgage transactions (40,610 residential units sold) increased by 40.6% in June 2022 compared to the same month last year.
Mortgage transactions accounted for 27% of the total housing sales that month.
From January to June, the number of transactions relying on home loans grew by 63.5% compared to the first half of 2021, totaling 170,317.
The segment of new homes accounted for 11,229 mortgage sales in June and 43,114 in January through June.
Other types of transactions: 109,899
There were 109,899 other (non-mortgage) transactions in June, which is 3.8% more than in June 2021.
Non-mortgage sales accounted for 73% of the total sales volume.
There was a 23.9% growth from January through June, compared to January – June 2021, reaching a total of 556,081 transactions in the first half-year.
Sales of new homes: 44,732
44,732 residential units were purchased in new developments, which is 11.6% more than last June. Transactions with new homes in Turkey accounted for 29.7% of the total sales volume this June.
Over the first half of 2022, “first-hand” housing sales increased by 24.2% compared to the first half of 2021. 208,451 units were sold over six months.
Sales of existing homes: 105,777
105,777 residential units found new owners in June. This is an 11.8% increase compared to the same month last year. Existing homes accounted for 70.3% of the total number of transactions over the month.
517,947 existing homes were sold in January through June, which means a 34.6% growth compared to the same period last year.
Sales to foreigners: 8,630
Foreigners purchased 81.8% more homes (8,630 apartments and houses) this June than the same month last year.
Over the sixth month of 2022, transactions with foreigners accounted for 5.7% of the total sales volume.
Istanbul is traditionally number one with 3,906 residential units sold to citizens of other countries. Antalya comes second with 2,534 sales and Mersin, third with 428 sales.
35,383 transactions with foreigners were made on January through June, which is 72.7% more than over the same period last year.
As for buyers’ nationalities, Russians bought the most housing in June 2022 (1,887 units), followed by Iranians (987 units) and Iraqis (807 units).