TÜİK: Housing sales decreased in May

The Turkish Statistical Institute (TÜİK) has released housing statistics for the month of May.

According to the data, housing sales throughout Turkey amounted to 113,276 units in May. This represents a 7.7% decrease compared to the same month of the previous year.

During the January-May period, housing sales experienced a 16.3% year-on-year decline, totaling 482,143 units.

MORTGAGED HOUSING SALES STOOD AT 27,476

In May, mortgaged housing sales in Turkey decreased by 6.3% compared to the same month of the previous year, reaching a total of 27,476 units. The share of mortgaged sales in total housing sales was 24.3%. Mortgaged housing sales for the January-May period experienced a 16.7% decline, amounting to 108,067 units.

Of the mortgage sales in May, 9,249 units were initial sales, while the January-May period saw 34,801 initial sales.

OVER 85,000 HOUSING UNITS CHANGED OWNER

Other housing sales in Turkey totaled 85,800 units in May, indicating an 8.2% decrease compared to the same month of the previous year. Other sales accounted for 75.7% of total housing sales. During the January-May period, other housing sales experienced a 16.2% decline, totaling 374,076 units.

In terms of first-hand housing sales nationwide, May saw a 4.7% increase compared to the same month of the previous year, amounting to 34,413 units. First-hand sales constituted 30.4% of total housing sales. From January to May, first-hand housing sales experienced an 11.3% decline, totaling 145,272 units.

Second-hand housing sales throughout Turkey amounted to 78,863 units in May, reflecting a 12.3% decrease compared to the same month of the previous year. Second-hand sales accounted for 69.6% of total housing sales. From January to May, second-hand housing sales experienced an 18.3% decline, totaling 336,871 units.

OVER 3,000 HOUSING UNITS SOLD TO FOREIGNERS

Housing sales to foreigners in May decreased by 46.9% compared to the same month of the previous year, totaling 3,167 units. Foreigners accounted for 2.8% of total housing sales in May. Antalya took the lead with 1,245 housing units sold to foreigners, followed by Istanbul with 934 units and Mersin with 249 units.

From January to May, housing sales to foreigners experienced a 37.8% decline, totaling 16,650 units.

RUSSIANS PURCHASED THE MOST HOUSING UNITS

In May, citizens of the Russian Federation purchased 991 housing units in Turkey. They were followed by citizens of Iran with 503 units, Ukraine with 175 units, and Germany with 129 units.