Türkiye’s house sales hit historic April peak amid mortgage boom, foreign demand – Türkiye Today
A view of a low-rise apartment complex surrounded by lush greenery in Istanbul, Türkiye, accessed on May 16, 2025. (Adobe Stock Photo)
May 16, 2025 05:19 PM GMT+03:00
Türkiye recorded the highest number of house sales ever for the January–April period, with total transactions reaching 454,145 units, marking a 27.9% increase compared to the same period in 2024, according to official data from the Turkish Statistical Institute (TurkStat).
This figure surpassed the previous peak of 453,121 units set in 2022.
Türkiye’s house sales hit historic April peak amid mortgage boom, foreign demand
April sales soar, led by mortgage recovery
In April alone, house sales jumped by 56.6% year-over-year to 118,359 units, making it the second-best April on record. Analysts associate this spike with a noticeable softening in interest rates over recent months, which has breathed new life into the mortgage market.
The number of mortgaged house sales more than doubled in April, surging 147% annually to 17,465 units. Mortgaged transactions accounted for 14.8% of all housing sales during the month. The trend was even more pronounced over the first four months of the year, as mortgage sales soared by 99.4% to 69,194 units. The data suggest that many households opted to lock in favorable borrowing conditions before further monetary tightening might resume.
Newly built high-rise residential buildings in Istanbul, Türkiye, accessed on May 16, 2025. (Adobe Stock Photo)
Foreign demand picks up, led by Russians
A breakdown of the data reveals that both new and second-hand housing segments contributed to the overall growth, but the latter played a significantly stronger role. Sales of brand-new homes rose 43.8% in April, reaching 34,633 units. Meanwhile, second-hand home sales outpaced new units by a wide margin, climbing 62.6% on an annual basis to 83,726 units.
Foreign interest in Türkiye’s property market also rebounded slightly in April. A total of 1,440 homes were sold to international buyers, up 13.2% from the same month last year.
Citizens of Russia, Iran, and Ukraine made up the majority of these purchases, continuing a trend seen since the onset of regional instability in Eastern Europe.
May 16, 2025 05:19 PM GMT+03:00
