Turkiye reports growth in housing sales in past month

March 14, 2024 admin-dominor

By News Centre

The Turkish Statistical Institute (TUIK) announced the
statistics of house sales in February 2024. The number of house
sales across Turkiye increased by 17.3 percent in February compared
to the same month last year and reached 93, 902 houses. Istanbul
ranked first in sales to foreigners, with 691 houses. This province
was followed by Antalya, with 659 houses, and Mersin, with 151
houses.

It was determined that 174, 210 houses were sold in
January-February 2024, with a 2 percent decrease compared to the
same period of the previous year.

In February, Istanbul had the highest share of housing sales
with 16,344 housing sales, or 17.4 percent.

This city was followed by Ankara with 8,300 house sales and an
8.8 percent share, and Izmir with 5,168 house sales and a 5.5
percent share.

The provinces with the lowest house sales were Ardahan with 18
houses, Tunceli with 45 houses, and Bayburt with 51 houses.

Housing sales to foreigners in Turkiye decreased by 44.9 percent
in February compared to the same month last year, reaching 1,846
houses.

Accordingly, 1,846 houses were sold to foreigners in February.
Housing sales to foreigners decreased by 44.9 percent on an annual
basis in February. In the month in question, the share of housing
sales to foreigners in total housing sales was 2 percent.

Istanbul ranked first in sales to foreigners, with 691 houses.
This province was followed by Antalya, with 659 houses, and Mersin,
with 151 houses.

Housing sales to foreigners decreased by 48 percent in the
January-February period compared to the same period last year,
reaching 3,907 houses.

According to country nationalities, most house sales were made
to Russian citizens. In February, Russian citizens bought 395
houses from Turkiye. Russian citizens were followed by Iranian
citizens with 200 houses, Iraqi citizens with 112 houses, and
Ukrainian citizens with 105 houses.

Mortgaged house sales across Turkiye were recorded at 8,827 in
February, decreasing by 49.1 percent compared to the same month
last year. The share of mortgage sales in total housing sales was
9.4 percent.

Mortgaged house sales in the January-February period decreased
by 56.1 percent compared to the same period last year, reaching
14,742.

Some 2,060 of the mortgaged sales in February and 3,464 of the
sales in the January-February period were determined to be
first-hand sales.

Other housing sales across Turkiye increased by 35.7 percent in
February compared to the same month last year, reaching 85,075. The
share of other sales in total housing sales was determined to be
90.6 percent.

Other housing sales in the January-February period were recorded
as 159,468, with an increase of 10.6 percent compared to the same
period last year.

The number of first-hand house sales across Turkiye increased by
21.8 percent on an annual basis in February, reaching 28,594. The
share of first-hand house sales in total house sales was determined
to be 30.5 percent. First-hand house sales increased by 5.6 percent
in the January-February period compared to the same period last
year, reaching 53,857.

Second-hand house sales across Turkiye increased by 15.5 percent
in February compared to the same month last year, reaching 65,308.
The share of second-hand house sales in total house sales was
calculated at 69.5 percent. Second-hand house sales were recorded
at 120,353 in the January-February period, with a 5 percent
decrease compared to the same period of the previous year.

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