SHARP DECLINE OF HOME SALES IN TURKEY FOR OCTOBER 2022

5/5 - 127 votes

.
Revised November, 2022 – Resource, Turkey iResidence
.
.
SHARP DECLINE OF HOME SALES IN TURKEY

Housing sales across the country decreased by 25.3 percent year-on-year in October to 102 thousand 660 units. Overdraft house sales decreased by 52.7 percent in October compared to the same month of the previous year. Sales to foreigners decreased by 8.8 percent year-on-year in October, but increased by 27 percent in the first 10 months of the year.

Turkey iResidence, “The Turkish Statistical Institute announced the Housing Sales Statistics for October 2022,” was said.

Accordingly, housing sales across Turkey decreased by 25.3 percent in October compared to the same month of the previous year and fell to 102 thousand 660.

In housing sales, Istanbul had the highest share with 16 thousand 987 housing sales and 16.5 percent.

According to the number of sales, Istanbul was followed by Ankara with the sale of 8 thousand 146 houses and a share of 7.9 percent, Antalya with the sale of 6 thousand 323 houses and a share of 6.2 percent.

The provinces with the lowest number of housing sales were Hakkari with 30 housing units, Ardahan with 42 housing units and Bayburt with 69 housing units, respectively.

.
A 53 PERCENT DECLINE IN OVERDRAFT SALES

January-October 2022 housing sales increased by 6.7 percent compared to the same period of the previous year and amounted to 1 million 159 thousand 853.

Mortgaged housing sales in Turkey decreased by 52.7 percent in October compared to the same month of the previous year and amounted to 13 thousand 268.

The share of mortgaged sales in total housing sales was 12.9 percent.

January-October mortgage housing sales increased by 15.2 percent compared to the same period of the previous year was 241 thousand 869.

January-October sales with mortgages, 4 thousand 260; 65 thousand 37 of the sales with mortgages in the January-October period was realized as first-hand sales.

.
89 THOUSAND HOUSES CHANGED HANDS

Sales of other houses across Turkey decreased by 18.3 percent in October compared to the same month of the previous year and amounted to 89 thousand 392.

The share of other sales in total housing sales was 87.1 percent. January-October sales of other housing, on the other hand, increased by 4.7 percent compared to the same period of the previous year was 917 thousand 984.

The number of first-hand home sales in Turkey decreased by 22 percent in October compared to the same month of the previous year and became 32 thousand 692.

The share of first-hand home sales in total home sales was 31.8 percent. January-October sales of first-hand houses increased by 4.8 percent compared to the same period of the previous year and amounted to 344 thousand 810.

.
ANTALYA RANKS FIRST IN SALES TO FOREIGNERS

The housing sales in Turkey to foreigners decreased by 8.8 percent in October compared to the same month of the previous year and became 5 thousand 377.

The share of housing sales made to foreigners in total housing sales in October was 5.2 percent.

Antalya took the first place in housing sales to foreigners with the sale of 2 thousand 123 houses.

Antalya was followed by Istanbul with the sale of a thousand 658 houses and Mersin with the sale of 490 houses, respectively.

.
MOST SALES TO RUSSIANS

January October 2022 housing sales to foreigners increased by 26.9 percent compared to the same period of the previous year and amounted to 55 thousand 21 in the period of January-October.

In October 2022, citizens of the Russian Federation bought 2 thousand 23 houses from Turkey.

Citizens of the Russian Federation were followed by citizens of Iran with 498 housing units, Iraq with 310 housing units and Ukraine with 216 housing units, respectively.

.
.
.
.