Current statistics of real estate sales in Turkey for September 2023

The Turkish Statistical Institute (TÜIK) reported that the volume of housing transactions decreased by 9.5% compared to September last year: 102,656 housing units were sold during the month.

Leading cities and anti-leaders

The maximum sales were recorded in Istanbul: 15,247, or 14.9% of the total. In terms of volume of transactions, Istanbul is followed by Ankara with 9,048 sales and a share of 8.8%, as well as Izmir with 5,476 sales and a share of 5.3%. The provinces with the least number of residences sold were Ardahan (47), Hakkari (55) and Bayburt (77).

Home sales in January-September decreased by 14.9% compared to the same period last year, reaching a total of 900,074 transactions.

Mortgage transactions: 8,446

Sales of mortgage housing in Turkey in September decreased by 50.2% compared to the same month last year, amounting to 8,446 units. The volume of transactions involving mortgage lending in the total volume of housing sales amounted to only 8.2%.

For the period from January to September, mortgage sales decreased by 29.6% compared to the same period last year, totaling 160,884 units.

Of the mortgage transactions, 1,971 sales in September 2023 and 48,865 in Q1-3 (January-September 2023) fell on new buildings.

Primary housing sales: 30,488

The number of housing sales in the segment of new buildings in Turkey decreased in September by 15.2% compared to the same month last year, totaling 30,488. The share of “primary” sales in the total volume of transactions for the month was 29.7%. For the period from January to September, sales in this segment decreased by 13.9% compared to the same period last year, amounting to 268,597.

Secondary housing: 72,168

Sales of secondary housing  in the country decreased by 6.8% compared to the same month last year, reaching 72,168 units. The share of secondary housing sales in the total volume of transactions was 70.3%. Sales in this segment in January-September decreased by 15.2% compared to the same period last year, amounting to 631,477 units.

Sales to foreigners: 2930

The volume of transactions with foreigners in September decreased by 42.0% compared to the same month last year, reaching a figure of 2,930. The share of housing sales to citizens of other states in the total number of transactions for this month was 2.9%.

Antalya took the first place with 1,070 sales, Istanbul took the second place (978 sales), and Mersin took the third place (211).

Sales of housing to foreigners in January-September decreased by 43.5% compared to the same period last year, amounting to 28,064.

As for the nationality of buyers, citizens of the Russian Federation bought the most: in September they accounted for 722 sales. Citizens of the Russian Federation are followed by citizens of Iran with (327), Iraq (191) and Germany (148).

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