House sales in Türkiye decline by 5.2% in June, foreign purchases plunge by 45.1%

The total number of house sales decreased by 5.2% compared to the same month in 2023 to 79,313, according to the data released by the Turkish Statistical Institute (TurkStat) for June.

From January to June, sales fell by 3.7% compared to last year’s period, dropping to 545,074 units.

In June, Istanbul led the country in home sales, with 13,025 units sold. Following Istanbul were Ankara with 6,866 sales and Izmir with 4,361 sales.

The provinces with the lowest number of home sales were Ardahan with 34, Hakkari with 40, and Tunceli and Bayburt with 44.

In Türkiye, house sales to foreigners decreased by 45.1% in June compared to the same month last year, amounting to 1,440 units.

TurkStat’s data revealed that 1,440 homes were sold to foreigners in June, representing a 45.1% annual decrease. The share of house sales to foreigners was recorded at 1.8% of the total home sales.

Antalya topped the list for foreign home sales with 593 units, followed by Istanbul with 478 units and Mersin with 116 units. The house sales to foreigners in the January to June period decreased by 45.7% compared to the same period in 2023, totaling 10,461 units.

Russian citizens bought the most houses in Türkiye, purchasing 332 units in June. They were followed by citizens of Iran with 156 units and Ukraine with 102 units.

Mortgage sales decrease

Mortgage house sales across Türkiye fell by 49.4% in June compared to the same month in 2023, down to 6,813 units.

The share of mortgage sales in total home sales was 8.6%.

Mortgage home sales decreased by 57.7% from January to June compared to last year, totaling 51,415 units.

Of the mortgage sales in June, 1,547 were first-time sales, while 12,176 of the January to June mortgage sales were first-time sales.

Increase in first-time house sales

Other house sales in Türkiye increased by 3.3% in June compared to last year, reaching 72,500 units.

The share of other total house sales was recorded at 91.4%.

Other house sales increased by 11.1% from January to June compared to last year, reaching 493,659 units.

The number of first-time house sales in Türkiye decreased by 1.8% in June annually, falling to 25,425 units. The share of first-time home sales in total home sales was recorded at 32.1%.

However, first-time home sales increased by 1.3% from January to June compared to last year, reaching 173,324 units.

Second-hand house sales in Türkiye decreased by 6.7% in June compared to the same month last year, falling to 53,888 units.

The share of second-hand house sales in total house sales was 67.9%. From January to June, second-hand home sales also fell by 5.8% compared to 2023, totaling 371,750 units.