According to housing and commercial property sales statistics released by the Turkish Statistical Institute (TÜİK), first-hand home sales increased during the same period, while second-hand sales declined.
In March, first-hand home sales rose by 1.3% year-on-year to 35,725 units, while second-hand home sales fell by 3.6% to 77,642 units. As a result, first-hand homes accounted for 31.5% of total sales, while second-hand homes accounted for 68.5%.
In the January–March period, total housing sales recorded a slight decline. Overall sales decreased by 0.3% year-on-year to 349,396 units. During the same period, first-hand sales increased by 1.7% to 107,579 units, while second-hand sales fell by 1.2% to 241,817 units.
Mortgage-backed home sales showed strong growth in March, rising by 35.9% year-on-year to 25,978 units. Other types of home sales declined by 9.6% to 87,389 units. Mortgaged transactions accounted for 22.9% of total sales, while other sales made up 77.1%. In the January–March period, mortgaged sales increased by 31.5% to 71,276 units, while other sales decreased by 6.1% to 278,120 units.
According to calendar-adjusted data, first-hand home sales fell by 1.8% in March, while second-hand sales decreased by 6.2%. In seasonally and calendar-adjusted figures, first-hand sales dropped by 9.6% compared to the previous month, while second-hand sales fell by 5.5%.
Home sales to foreign buyers also declined in March, decreasing by 20% year-on-year to 1,353 units, representing 1.2% of total sales. In the January–March period, sales to foreigners fell by 14.9% to 4,165 units. In March, the highest number of sales to foreign buyers was made to citizens of the Russian Federation with 229 units, followed by Iranian citizens with 130 units and German citizens with 84 units.
A downward trend was also observed in commercial property sales. In March, total commercial property sales fell by 10.5% year-on-year to 13,499 units. First-hand commercial sales decreased by 5.4% to 3,787 units, while second-hand sales declined by 12.3% to 9,712 units.
Mortgage-backed commercial property sales, however, increased significantly in March, rising by 60.1% to 698 units. Other commercial property sales decreased by 12.6% to 12,801 units.
In the January–March period, commercial property sales also declined, falling by 8.3% year-on-year to 41,835 units. First-hand commercial sales decreased by 6.6% to 11,212 units, while second-hand sales dropped by 8.9% to 30,623 units. During the same period, mortgaged commercial sales increased by 64.7% to 1,966 units, while other sales fell by 10.2% to 39,869 units.
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