CONTENT:
- Leading and lagging cities
- Mortgage transactions: 5,577
- Other transaction categories: 88,184
- Primary housing sales: 29,230
- Secondary housing sales: 64,531
- Sales to foreigners: 2,535
LEADING AND LAGGING CITIES
According to official data published by the Turkish Statistical Institute (TÜİK), the number of residential units sold across Turkey in October decreased by 8.7% compared to the same month last year, reaching a total of 93,761 units. Turkey's largest metropolis, Istanbul, takes the highest share in residential property sales for the month with 14,941 units sold, accounting for 15.9% of the total. This is followed by Ankara with 7,394 sales and a share of 7.9%, and Izmir with 5,192 sales and a share of 5.5%. The cities with the lowest number of transactions in October 2023 were Hakkari (40 housing units), Ardahan (43) and Bayburt (80).
For the period from January to October, the decrease amounted to 14.3% compared to the same period last year, with a total of 993,835 units sold.
MORTGAGE TRANSACTIONS: 5,577
Residential mortgage sales in October fell by 58.0% compared to the same month last year, reaching 5,577 transactions. This represents only 5.9% of the total volume. For the first 10 months of the current year, mortgage sales decreased by 31.2% compared to the same period last year, totaling 166,461 units. Of these, 1,369 transactions took place in October and 50,234 took place from January to October for the purchase of properties in new developments.
OTHER TRANSACTION CATEGORIES: 88,184
Excluding mortgage financing, the number of transactions in Turkey decreased slightly by 1.4% in October compared to the same month last year, reaching a total of 88,184. Non-mortgage transactions accounted for 94.1% of total real estate sales. From January to October, the decrease was 9.9% compared to the same period last year, with a total of 827,374 sales.
PRIMARY HOUSING SALES: 29,230
The number of transactions in the new construction segment (primary housing) decreased by 10.6% in October compared to October 2022, reaching 29,230. The share of new home sales in the total volume of home sales was 31.2%. Property sales in this segment from January to October decreased by 13.6% compared to the same period last year, totaling 297,827.
SECONDARY HOUSING SALES: 64,531
Secondary market sales also fell slightly in October, by 7.8% year-on-year to 64,531 units. The share of transactions in this segment in the total volume of home sales for the month was 68.8%. The number of secondary market transactions from January to October was 696,008, which is 14.6% less than the same period in 2022.
SALES TO FOREIGNERS: 2,535
The volume of transactions with foreigners in October decreased by 52.9% compared to the same month last year, reaching 2,535. The share of home sales to foreigners in the total sales volume in October was 2.7%. In terms of transaction volume, Antalya ranked first with 931 sales, followed by Istanbul with 758 sales and Mersin with 294 sales. In the period from January to October, sales to foreign investors decreased by 44.4% compared to the same period last year, with a total of 30,599 units. In terms of the nationality of the buyers, Russian citizens once again led the way with 713 units purchased, followed by Iran (235), Germany (152) and Ukraine (138).