Housing sales in Turkey fall 21.7%

Housing sales in Turkey fall 21.7%

Housing sales in Turkey fall 21.7%

he number of real estate properties sold in Turkey fell 21.7% year-on-year in the first half of 2019, with more than 500,000 properties sold in the first six months, the Turkish Statistical Institute (TurkStat) said Wednesday.

Despite this downward trend, property sales to foreigners jumped 68.8% in the first half, reaching 19,952 units in the January-June period, up from 11,816 units in the same period of last year.

As for June, foreign buyers became owners of 2,689 houses, a 30.5 percent year-on-year increase.

They purchased some 2,060 units in the same month 2018. Thus, the month of June also saw its highest figures in property sales to foreigners ever.

On the other hand, a decline in the domestic market continued, as house sales on overall dropped by 21.7 percent on a yearly basis to 505,796 properties in the first half of this year, according to data. In June alone, housing sales plunged 48.6% year-on-year to 61,355 units.

Some 206,254 houses were sold for the first time while the rest were second-hand sales, according to TurkStat.

Also read: Home sales are the highest in Istanbul, and the lowest in Ardahan!

Istanbul had the highest share of house sales at 18% or 91,561 houses.

Turkey’s largest city was followed by the capital Ankara and the Aegean province of Izmir with 48,814 units (9.6% of all sales) and 29,066 (5.7%), respectively.

Earlier, foreigners acquired some 3,168 units in January, 3,321 units in February, 3,129 units in March, 3,720 units in April and 3,925 units in May with a year-on-year increase of 81.9 percent, 92.1 percent, 71.3 percent, 82.1 percent and 62.5 percent, respectively. All five months saw all-time high figures.

The official data showed the country’s most populous city, Istanbul, has maintained its performance and continued to be the most preferred spot for foreigners in June, as it was the case in the previous months.

House sales in the city last month jumped by 32.1 percent to 1,009 units, up from 764 in the same month 2018.

The holiday resort city of Antalya again followed Istanbul with 668 units sold to foreign buyers.

It was followed by the capital of Ankara with 134 units, Yalova with 123 units, Bursa with 122 and Trabzon with 111 units last month.

Overall, foreigners purchased some 8,903 properties in the first half of this year, followed by Antalya with 4,093, Ankara with 1,111, Bursa with 1,000, Yalova with 811, Sakarya with 592, Trabzon with 425, Mersin with 410, Muğla with 391 and Aydın with 355 units.

Iraqi citizens still top buyers

When it comes to nationalities, Iraqi citizens maintained their rank as the top buyer among foreigners. Iraqis, who purchased some 315 houses in June 2018, increased this figure to 429 in the same month of this year. They were followed by Iranians with 415, Russians with 190, Germans with 126, and British and Kuwaitis with 103 each.

As for the January-June period, Iraqis became owners of some 3,337 houses in total, followed by Iranians with 2,202 units, Russians with 1,264, Saudis with 1,094 units, and Afghanis with 987 units.

  • Existing home sales by state
  • Existing home sales report
  • Existing home sales data
  • Existing home sales 2019
  • Existing home sales september 2019
  • Existing home sales 2019
  • Existing home sales january 2019
  • Pending home sales
  • Existing home sales by state 2019
  • Existing home sales fred
  • Housing sales in Turkey 2019
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