Content:
- Top and lagging cities
- Mortgage transactions: 6,813
- Other categories of transactions: 72,500
- Primary home sales: 25,425
- Secondary home sales: 53,888
- Sales to foreigners: 1,440
Top and lagging cities
According to data released by the Turkish Statistical Institute (TUİK), home sales decreased by 5.2% in Turkey in June compared to the same month last year: 79,313 units.
The cities with the largest number of homes sold were Istanbul (13,025), Ankara (6,866) and Izmir (4,361). The lowest volume of transactions is in Ardahan (34 housing units), Hakkari (40), Tunceli and Bayburt (44 each).
Total sales decreased by 3.7% in the first six months (January-June) compared to the same period in 2023 totalling 545,074 housing units.
Mortgage transactions: 6,813
Mortgage sales decreased by 49.4% across the country in June compared to the same month last year and amounted to 6813 units. The share of mortgage deals in the total volume of home sales was 8.6%.
Mortgage transactions decreased by 57.7% in January-June compared to the same period last year amounting to 51,415 units. 1,547 mortgage sales were made in June, and 12,176 housing deals were concluded in January-June in brand-new buildings (first-hand sales).
Other categories of transactions: 72,500
Non-mortgage sales increased by 3.3% in Turkey in June compared to the same month last year reaching 72,500. The share of such sales in the total volume of transactions for the month amounted to 91.4%.
Non-mortgage deals accounted for 493,659 home sales in the first half of 2024, which is 11.1% more than in the first half of 2023.
Primary home sales: 25,425
According to statistics published by TUİK, the number of primary home sales decreased by 1.8% across Turkey in June compared to the same month last year: 25,425 units. The share of such sales in the total volume of transactions for the month was 32.1%.
However, primary real estate sales grew by 1.3% between January and June compared to the same period last year: a total of 173,324 units.
Secondary home sales: 53,888
Secondary home sales declined by 6.7% in June compared to June 2023: 53,888 units. The share of second-hand home sales in the total volume of transactions for the month was 67.9%. This is 371,750 units in January-June, which is 5.8% less than in the same period last year.
Sales to foreigners: 1,440
The volume of deals with citizens of other countries declined by 45.1% in June compared to the same month last year reaching 1,440 units. The share of housing sales to foreigners in the total volume of transactions over the past month amounted to 1.8%. The cities with the largest number of residential real estate sales to overseas buyers were Antalya (593), Istanbul (478) and Mersin (116).
Housing sales to foreigners decreased by 45.7% in January-June compared to the first half of 2023 totalling 10,461 units in six months.
Regarding the buyers' nationality, the majority of transactions were concluded by citizens from Russia, who bought 332 housing units. They are followed by citizens of Iran (156) and Ukraine (102).