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Major decline in the housing market: Sales are at their lowest point in 3 years

Turkish Statistical Institute (TUIK) announced housing sales statistics for April. Accordingly, housing sales decreased by 11.8 percent last month compared to the previous month, reaching 75 thousand 569. This was the lowest number of sales since May 2021.

Major decline in the housing market: Sales are at their lowest point in 3 years

House sales across Türkiye decreased by 11.8% in April compared to the same month of the previous year, reaching 75 thousand 569. The provinces with the highest number of house sales were Istanbul with 12 thousand 406, Ankara with 6 thousand 272 and Antalya with 4 thousand 427, while the provinces with the lowest number were Ardahan with 18, Hakkari with 35 and Tunceli with 49, respectively.

Housing sales decreased by 3.7% in the January-April period compared to the same period of the previous year, reaching 355 thousand 173.

Mortgaged house sales amounted to 7 thousand 71

Mortgaged house sales across Türkiye decreased by 67.5% in April compared to the same month of the previous year, reaching 7 thousand 71. The share of mortgage sales in total housing sales was 9.4%. Mortgaged house sales in the January-April period decreased by 57.0% compared to the same period of the previous year, reaching 34 thousand 693.

1,744 of the mortgaged sales in April; 8 thousand 313 of the mortgaged sales in the January-April period were first hand sales.

As a result of other types of sales, 68 thousand 498 houses changed hands.

Other housing sales across Türkiye increased by 7.2% in April compared to the same month of the previous year, reaching 68 thousand 498. The share of other sales in total housing sales was 90.6%. Other housing sales in the January-April period increased by 11.2% compared to the same period of the previous year, reaching 320 thousand 480.

The number of first-hand house sales was 24 thousand 85

The number of first-hand house sales across Türkiye decreased by 10.6% in April compared to the same month of the previous year, reaching 24 thousand 85. The share of first-hand house sales in total house sales was 31.9%. First-hand house sales amounted to 112 thousand 341 in the January-April period, with an increase of 1.3% compared to the same period of the previous year.

51 thousand 484 houses changed hands in second-hand house sales

Second-hand house sales across Türkiye decreased by 12.3% in April compared to the same month of the previous year, reaching 51 thousand 484. The share of second-hand house sales in total house sales was 68.1%. Second-hand house sales decreased by 5.9% in the January-April period compared to the same period of the previous year, reaching 242 thousand 832.

1,272 houses were sold to foreigners in April

Housing sales to foreigners decreased by 50.3% in April compared to the same month of the previous year, reaching 1,272. The share of housing sales to foreigners in total housing sales in April was 1.7%. The provinces with the highest number of house sales to foreigners were Antalya with 454, Istanbul with 407 and Mersin with 149, respectively.

Housing sales to foreigners decreased by 48.4% in the January-April period compared to the same period of the previous year, reaching 6 thousand 957.

According to country nationalities, the most housing sales were made to citizens of the Russian Federation

In April, the most house sales by country nationality were made to citizens of the Russian Federation with 293, Iranian citizens with 117 and Ukraine with 91, respectively.

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