TURKEY HOME SALES DECREASED IN AUGUST 2022 REAL ESTATE

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Revised November, 2022 – Resource, Turkey iResidence
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TURKEY PROPERTY SALES DECREASED IN AUGUST

Turkey iResidence – housing sales across Turkey decreased by 12.7 percent in August compared to the same month of the previous year and became 123 thousand 491. The Government Turkish Statistical Institute announced the housing sales statistics in Turkey for August 2022.
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Accordingly, housing sales across Turkey decreased by 12.7 percent in August compared to the same month of the previous year and became 123 thousand 491. Housing sales also contracted by 12.9 percent annually in July.

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In housing sales, Istanbul had the highest share with 18 thousand 485 housing sales and 15.0 percent. According to the number of sales, Istanbul was followed by Ankara with the sale of 9,736 houses and a share of 7.9 percent, Izmir with the sale of 6,395 houses and a share of 5.2 percent. The provinces with the lowest number of housing sales were Hakkari with 41 housing units, Ardahan with 63 housing units and Bayburt with 101 housing units, respectively.

2022 January August sales of housing amounted to 943 thousand 791 with an increase of 17.7 percent compared to the same period of the previous year.

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MORTGAGED HOME SALES FELL BY 19 PERCENT

Mortgaged housing sales in Turkey decreased by 19.0 percent in August compared to the same month of the previous year and became 22 thousand 168. The share of mortgaged sales in total housing sales was 18.0 percent. August January-August mortgage housing sales increased by 39.1 percent compared to the same period of the previous year was 211 thousand 631.

January August 2022 mortgage sales, 6 thousand 654 thousand; 55 thousand 348 of the mortgage sales in the period of January-August was realized as the first hand sales.

Sales of other houses across Turkey decreased by 11.1 percent in August compared to the same month of the previous year and amounted to 101 thousand 323. The share of other sales in total housing sales was 82.0 percent. August January-August sales of other housing increased by 12.7 percent compared to the same period of the previous year was 732 thousand 160.

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BRAND NEW AND SECOND-HAND HOME SALES DECREASED

The number of first-hand home sales in Turkey decreased by 8.5 percent in August compared to the same month of the previous year and became 39 thousand 25. The share of first-hand home sales in total home sales was 31.6 percent. August January-August sales of first-hand houses increased by 13.6 percent compared to the same period of the previous year and amounted to 276 thousand 164.

Second-hand home sales in Turkey decreased by 14.5 percent in August compared to the same month of the previous year and became 84 thousand 466. The share of second-hand home sales in total home sales was 68.4 percent. January August sales of second-hand houses increased by 19.5 percent compared to the same period of the previous year and amounted to 667 thousand 627 in the January-August period.

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THE LARGEST NUMBER OF HOUSING SALES TO RUSSIANS

Housing sales to foreigners decreased by 10.1 percent in August compared to the same month of the previous year and became 5 thousand 273.

– The share of housing sales made to foreigners in total housing sales in August was 4.3 percent.

– Antalya took the first place in housing sales to foreigners with the sale of 1 thousand 814 housing units. Antalya was followed by Istanbul with the sale of 1 thousand 750 houses and Mersin with the sale of 317 houses, respectively.

– 2022 January-August period, housing sales to foreigners increased by 44.6 percent compared to the same period of the previous year and amounted to 44 thousand 595.

– In August, citizens of the Russian Federation bought 1 thousand 238 houses from Turkey. The citizens of the Russian Federation were followed by the citizens of Iran with 633 houses and Iraq with 417 houses.

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