Across Türkiye, home sales in November declined by 7.8% compared with the same period last year, falling to 141,100 units. As a result, housing sales hit their lowest level since June. According to data from the Turkish Statistical Institute (TUIK), the monthly weakening in sales stood out despite the upward trend on an annual basis.
In November, the highest number of home sales was recorded in Istanbul with 24,234 units, followed by Ankara with 12,706 and Izmir with 8,540. The provinces with the lowest number of home sales were Ardahan with 78 units, Bayburt with 131, and Artvin with 152.
Home sales increased in the January–November period
In the January–November period, covering the first 11 months of the year, home sales increased by 13.3% compared to the same period last year, reaching 1,434,133 units. This trend indicates that demand remained strong throughout the year.
Limited decline in mortgaged home sales
In November, mortgaged home sales decreased by 1.4% as yearly, reaching 21,499 units. Mortgaged homes accounted for 15.2% of total sales. In the January–November period, mortgaged sales increased by 53.5% compared to the same period last year, reaching 207,519 units. Of these, 5,483 sales in November and 49,973 sales in the January–November period were first-hand purchases.
Other types of sales maintained their share
Excluding mortgaged sales, other home sales decreased by 8.8% in November, reaching 119,601 units. These sales accounted for 84.8% of total home sales. In the January–November period, the number of homes sold through other types of transactions increased by 8.5%, reaching 1,226,614 units.
First-hand sales declined, second-hand sales gained prominence
In November, first-hand home sales decreased by 5.4% compared to the same month last year, totaling 46,589 units. First-hand sales made up 33.0% of total sales. In the January–November period, first-hand home sales increased by 8.9%, reaching 444,096 units.
Second-hand home sales decreased by 8.9% in November to 94,511 units, accounting for 67.0% of total sales. In the first 11 months of the year, second-hand sales increased by 15.4%, reaching 990,037 units.
Sales to foreigners declined
In November, home sales to foreigners decreased by 9.7% as yearly, totaling 1,943 units. These sales accounted for 1.4% of total home sales. In November, the highest number of homes sold to foreigners were in Istanbul (728 units), Antalya (662), and Mersin (157).
In the January–November period, total home sales to foreigners decreased by 11.1% compared to the same period last year, reaching 18,993 units.
Russian citizens lead foreign buyers
In November, the largest number of homes sold by nationality went to citizens of the Russian Federation, with 310 units. They were followed by Ukraine with 159 units and Germany with 151 units.
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