TURKEY HOME SALES DECREASED IN JULY 2022 REAL ESTATE

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Revised November, 2022 – Resource, Turkey iResidence
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HOME SALES IN TURKEY DECREASED IN JULY 2022

Turkey housing sales decreased by 12.9 percent in July compared to the same month of the previous 2021 year and became 93 thousand 902. The number of working days had fallen due to the holiday in July 2022.

Housing sales across Turkey decreased by 12.9 percent in July compared to the same month of the previous year and became 93 thousand 902.

In housing sales, Istanbul had the highest share with 14 thousand 350 housing sales and 15.3 percent. According to the number of sales, Istanbul was followed by Ankara with the sale of 7,417 houses and a share of 7.9 percent, Izmir with the sale of 4,868 houses and a share of 5.2 percent.

The provinces with the lowest number of housing sales were Hakkari and Ardahan with 31 housing units and Şırnak with 49 housing units, respectively.

January-July housing sales increased by 24.2 percent compared to the same period of the previous year and amounted to 820 thousand 300.

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DECLINE IN TURKISH BANK MORTGAGED SALES

Mortgaged housing sales in Turkey decreased by 6.8 percent in July compared to the same month of the previous year and amounted to 19 thousand 146. The share of mortgaged sales in total housing sales was 20.4 percent.

January-July mortgage housing sales increased by 51.9 percent compared to the same period of the previous year was 189 thousand 463.

January-July mortgage sales, 5 thousand 580; mortgaged sales in the January-July period, 48 thousand 694”was realized as a first-hand sale.

Sales of other houses across Turkey decreased by 14.3 percent in July compared to the same month of the previous year and amounted to 74 thousand 756. The share of other sales in total housing sales was 79.6 percent. January-July sales of other housing, on the other hand, increased by 17.7 percent compared to the same period of the previous year was 630 thousand 837.

The number of working days had fallen due to the Eid al-Adha holiday in July 2022.

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FIRST-HAND SALES ALSO FELL

The number of first-hand home sales in Turkey decreased by 12.2 percent in July compared to the same month of the previous year and became 28 thousand 688. The share of first-hand home sales in total home sales was 30.6 percent.

2022 January-July sales of first-hand houses increased by 18.2 percent compared to the same period of the previous year and amounted to 237 thousand 139.

Second-hand home sales in Turkey decreased by 13.2 percent in July compared to the same month of the previous year and amounted to 65 thousand 214. The share of second-hand home sales in total home sales was 69.4 percent. January-July sales of second-hand houses increased by 26.8 percent compared to the same period of the previous year and amounted to 583 thousand 161.

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THERE IS ALSO A DECLINE IN PROPERTY SALES TO FOREIGNERS

Housing sales to foreigners decreased by 12.4 percent in July compared to the same month of the previous year and became 3 thousand 939. In July, the share of housing sales made to foreigners in total housing sales was 4.2 percent.

Antalya took the first place in housing sales to foreigners with the sale of 1421 housing units. Antalya was followed by Istanbul with the sale of 1154 houses and Mersin with the sale of 289 houses, respectively.

January-July 2022 period, housing sales to foreigners increased by 57.4 percent compared to the same period of the previous year and amounted to 39 thousand 322.

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RUSSIANS RECEIVED THE MOST

In July, citizens of the Russian Federation purchased 1028 houses from Turkey. The citizens of the Russian Federation were followed by the citizens of Iran with 431 houses and Iraq with 380 houses, respectively.

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