93 902 real estate units were sold in Turkey during July 2022.
Top cities and foreigners
In July 2022, a total of 93,902 residential properties were sold. According to the statistics agency TÜİK, this was 12.9% less than in July 2021.
Istanbul traditionally occupies 1st place with 14,350 sales and a share of 15.3% of the total transaction number. The largest Turkish metropolitan area is followed by Ankara (7417 sales and a share of 7.9%) and Izmir (4868 sales and a share of 5.2%). The provinces with the lowest number of transactions in July were Hakkari and Ardahan (31 sales each) and Shyrnak (49 sales).
From January till July the volume of transactions increased by 24.2% compared to the January-July period in 2021: a total of 820,300 sales.
Mortgage transactions: 19 146
The number of mortgage transactions reached 19,146. This is 6.8% less than in July last year. The share of sales involving mortgage lending totaled 20.4%.
At the same time, during the 7 months of this year, the number of such sales increased by 51.9% compared to the same period in 2021: a total of 189,463 transactions.
Of these, 5,580 transactions in July and 48,694 transactions during the 7 months of the year were newly developed property sales.
Other transactions: 74 756
The total non-mortgage transactions in Turkey in July 2022 was 74,756. Sales in this segment fell by 14.3% compared to July last year.
The share of non-mortgage transactions in the total volume of sales is 79.6%, respectively.
Since the beginning of the year, a total of 630,837 sales without the involvement of mortgage lending have been recorded: this is 17.7% higher than the January-July period in 2021.
Primary housing sales: 28 688
In July 28,688 residences sold for the first time were purchased in Turkey. This is 12.2% less than during the same month of 2021. The share of “first-hand” housing sales in the total volume of transactions this month is 30.6%.
During the period from January till July, sales of newly developed properties increased by 18.2% compared to last year: 237,139 transactions.
Existing housing sales: 65 214
65,214 residences have changed ownership. This is 13.2% less than in July of the previous year. The share of secondary sales in the total volume of transactions was 69.4%.
During the seven months of the year, the number of such transactions increased by 26.8% compared to 2021: a total of 583,161 housing units were sold.
Sales to foreigners: 3939
In July, 3939 residences were sold to foreigners. This is 12.4% less than in July last year.
The share of housing sales to citizens of other states in Turkey last month was 4.2%.
Antalya ranked first in terms of volume with the sale of 1,421 housing units. Istanbul was rated 2nd with 1154 sales, and Mersin 3rd with 289 sales.
During the January-July period, the volume of transactions with foreigners increased by 57.4% compared to the same period last year. In total, foreign investors bought 39,322 housing units.
Regarding the nationality of buyers, the citizens of the Russian Federation once again took 1st place: they bought 1028 apartments or houses in Turkey. The 2nd place is occupied by the citizens of Iran: 431 purchases and the 3rd place is occupied by the citizens of Iraq: 380 purchases.