Leading cities and anti-leaders in the market
According to the official information of TÜIK (Turkish Statistical Institute), the volume of housing transactions in April decreased by 35.6% compared to the same month last year and amounted to 85,652 units.
Istanbul ranked first in the number of residential properties sold: 13,944 residences, or 16.3% of the total for the month. Istanbul was followed by Ankara with 10,000 housing units and a share of 11.7%, and Izmir with 4,960 housing units and a share of 5.8%. Ardahan and Hakkari (22 units each) and Bayburt (53 units) sold the smallest number of residences.
The volume of deals between January and April declined by 18.6% compared to the same period in 2022 and amounted to 368,867 housing units.
Mortgage transactions: 21,769
Real estate sales in Turkey in April fell by 32.0% compared to the same month last year to 21,769 units. The share of mortgage lending transactions in total sales was 25.4%. Mortgage transactions in January-April decreased by 19.7% compared to the same period in 2022 totalling 80,591 units in 4 months.
There were 7,388 deals in April and 25,552 ones between January and April in the new construction segment.
Other categories of transactions: 63,883
The volume of non-mortgage transactions in April declined by 36.8% compared to the same month last year to 63,883 housing units. The share of this segment in total sales was 74.6%. The volume of non-mortgage deals from January to April decreased by 18.3% compared to the same period last year and amounted to 288,276 units.
Primary home sales: 26,952
The number of deals in the new construction segment in Turkey in April decreased by 26.0% compared to the same month last year to 26,952 lots. The share of housing sales in this segment amounted to 31.5% of the total volume. Sales of residences in new buildings between January and April fell by 15.3% compared to the same period last year to 110,859 units in 4 months.
Secondary housing sales: 58,700
Secondary housing sales in Turkey in April fell by 39.3% compared to April 2022 to 58,700 units. The share of transactions in this segment was 68.5% of the total volume.
Secondary property sales from January to April decreased by 19.9% compared to the same period last year to 258,008 units.
Sales to foreigners: 2,557
Home sales to foreigners in April fell by 60.3% compared to the same month last year and amounted to 2,557 units. Transactions with foreign citizens in April accounted for 3.0% of total home sales.
Antalya ranked first in sales of 1034 residences (apartments or houses). Antalya was followed by Istanbul with 792 sales and Mersin with 186 ones.
Since the beginning of the year (January-April), the volume of deals with foreign nationals has decreased by 35.1% compared to the same period in 2022 to 13,483 units.
As for the nationality of buyers, the citizens of the Russian Federation purchased the most housing: 817 housing units. Iran took second place (377), Ukraine ranked third (136) pushing Iraq, and finally, Iraq was in fourth place (124).