Content:
- Leading and underperforming cities
- Mortgage transactions: 8,827
- Other transaction categories: 85,075
- Primary housing sales: 28,594
- Secondary housing sales: 65,308
- Sales to foreigners: 1,846
Leading and underperforming cities
According to data announced by the Turkish Statistical Institute (TÜİK), housing sales in February increased by 17.3 per cent compared to the same month last year, reaching 93,902 units.
Istanbul accounted for the largest share of transactions, with 16,344 units, or 17.4 per cent. Istanbul was followed by Ankara, with 8,300 home sales and a share of 8.8 per cent, and Izmir, with 5,168 sales and a share of 5.5 per cent. The provinces with the lowest number of transactions in February were Ardahan (18 home sales), Tunceli (45), and Bayburt (51).
In the first 2 months of 2024, housing sales decreased by 2% compared to 2023 (January–February), totalling 174,210 units.
Mortgage transactions: 8,827
Home mortgage sales nationwide in February were down 49.1% from the same month last year, totalling 8,827 units. Mortgage-backed transactions accounted for 9.4% of the total.
In January and February, the volume of mortgage transactions totalled 14,742 units, which is 56.1% less than in January and February 2023.
In the segment of new buildings, 2,060 transactions were recorded in February and 3,464 in January–February.
Other transaction categories: 85,075
In the non-mortgage home sales segment, transaction volume nationwide rose by 35.7% in February compared to the same month a year ago, totalling 85,075. These transactions accounted for 90.6% of total home sales.
In the first 2 months of 2024, the number of transactions in this segment was up 10.6% over the same period the previous year, with a total of 159,468.
Primary housing sales: 28,594
Housing sales in the new-build segment across Turkey increased by 21.8% year-on-year in February: 28,594 units. The share attributable to the purchase of new buildings in the monthly transaction volume was 30.5 per cent. Sales in this segment grew by 5.6% year-on-year in January-February 2023: a total of 53,857 units.
Secondary housing sales: 65,308
In February, sales in the secondary housing segment were up 15.5% year-over-year: 65,308. The share of transactions with secondary housing in the total volume was 69.5%. For January–February, secondary housing sales decreased by 5% compared to last year's period: 120,353 in the 2 months.
Sales to foreigners: 1,846
The volume of transactions with foreigners in February 2024 decreased by 44.9% compared to the same month last year and totalled 1,846 units. The share of such transactions in the total volume was precisely 2%. Istanbul ranked 1st in the number of sales (691 units), followed by Antalya (659) and Mersin (151).
In 2 months, housing sales to citizens of other countries decreased by 48% compared to January–February last year, totalling 3,907.
Buyers from abroad can be divided by nationality as follows: citizens of the Russian Federation purchased the most housing—395 flats or houses. They are followed by citizens of Iran (200), Iraq (112), and Ukraine (105).