Sharp drop of property sales in Turkey. Property sales stats in April 2020

Sharp drop of property sales in Turkey. Property sales stats in April 2020

According to Turk.Estate, 42,783 houses were sold in Turkey in April 2020. Thus, home sales in Turkey fell by 55.5% compared with the same month the previous year.

New home sales amounted to 14,848 units and dropped by 60.7%. Existing property sales reached 27,935 units decreasing by 52.1% compared to April 2019.

According to Alen Yeremeyev, Turk.Estate expert, only 790 properties were purchased by foreigners. The top three countries included Iran, Iraq and Russia. Their residents bought 157, 103 and 61 properties respectively. For the first time in a long time, China moved to the 5th place with 40 apartments purchased. In March 2020, foreigners bought 3,036 properties.

1. Property sales stats in April 2020

The share of properties sold in Istanbul is 14.3% or 6,113 homes out of 42,783. It is followed by Ankara with 4,500 property sales (10.5%) there and Izmir with 2,533 property sales or 5.9% of the total sales.

Property sales with mortgage loans reached the level of 17,088 in April 2020

The number of mortgage loans issued in Turkey in April 2020 decreased by 23.9% in comparison with April 2019 and amounted to 17,088. The share of sales with a mortgage in the total sales of houses amounted to 39.9%. Istanbul also headed the list of property sales with mortgage loans with 2,451 homes which is 14.3% of the total sales with mortgage loans.

Home sales by type of sales, April 2020

2. Newly built property sales stats

The number of sold newly built properties amounted to 14,848 units. The number of new homes sold in Turkey for the first time decreased by 60.7% compared with the same month a year earlier. The share of new home sales in total house sales reached 33.1%.

3. Existing home sales stats

As for existing home sales, 27,935 unit were sold in Turkey. This figure decreased by 52.1% comparing with April 2019. Istanbul again took the first place with 4,091 home sales, which is 14.6%. The share of properties sold in Istanbul in total home sales is 66.9%. Ankara took the second place with sales of 3,334 homes. It is followed by Izmir with 1,679 houses sold in this city.

New and secondary home sales April 2018 - April 2020

Home sales by type of sales, April 2019 and 2020

Sales by type of housing, April 2019-2020

4. Growth of sales in January - April 2020

Despite the observed drop in sales in April, if we take the period January - April 2020, real estate sales grew by 8.9%. During the period between January and April, 383,821 property units were sold. This figure is 8.9% higher than during the same period last year. January-April sales of mortgage properties jumped by 141.4% up to 146,387 units, while other types of sales decreased by 18.6% to 237,434 properties. Sales of newly built apartments decreased during this period by 16.0% and amounted to 122,280 units. Secondary housing sales increased by 26.4% up to 261,541 units.

5. Properties purchased by foreigners

In April 2020, only 790 apartments were sold to foreigners. This figure dropped by 78.8% comparing with the same month last year and amounted to 790 units. Foreigners bought 374 properties in Istanbul, which made it the leader in the top list in April 2020. Istanbul is followed by Antalya with 150 sales, Ankara with 47 sales, Izmir and Yalova with 30 and 25 sales respectively.

Properties bought by foreigners, April 202

The number of properties purchased by foreigners in January - April decreased by 12.0% comparing with the same period last year and amounted to 11,738.

The largest number of houses were acquired by Iranians, who purchased 157 properties in Turkey in April. Iran was followed by Iraq with 103 houses, the Russian Federation with 61 apartments, Afghanistan with 54 and China with 40 properties.

Top 20 of nationals who bought property in Turkey, April 2020

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