Turkish house sales drop month-over-month but surge year-over-year: TurkStat

House sales in Türkiye monthly declined by 7.34% in November, however, it showed a 63.6% increase compared to the same month in 2023, TurkStats reported on Wednesday.

With a total of 153,014 houses sold in November, house sales in the January-November period increased by 16.4% compared to the same period of the previous year and reached 1,265,388 units.

Türkiye’s key house sale statistics in November 2024

Provinces with the highest number of house sales:

1. Istanbul: 26,320 units
2. Ankara: 14,916 units
3. Izmir: 8,583 units

Provinces with the lowest number of house sales:

1. Bayburt: 89 units
2. Tunceli: 99 units
3. Hakkari: 121 units

House sales to foreigners:

• November 2024: Decreased by 8.2% compared to November 2023, with 2,151 sales, representing 1.4% of all house sales.
• Year-to-date: Decreased by 35.1% compared to the same period in 2023, totaling 21,363 sales.
  • Top provinces:
    • Istanbul: 780 units
    • Antalya: 752 units
    • Mersin: 191 units
  • Sales by nationalities:
    • Russian citizens: 421 units
    • Iranian citizens: 200 units
    • Ukrainian citizens: 160 units

Mortgaged house sales:

• November 2024: Increased by 315.7% compared to November 2023, reaching 21,804 sales, accounting for 14.2% of total house sales.
• Year-to-date (January-November 2024): Decreased by 21.3% compared to the same period in 2023, totaling 135,209 sales.
• First-hand sales: In November 2024, 5,213 mortgaged house sales were first-hand sales, while 32,082 were recorded year-to-date.

Other house sales:

• November 2024: Increased by 48.6% compared to November 2023, with 131,210 sales, making up 85.8% of total house sales.
• Year-to-date: Increased by 23.4% compared to the same period in 2023, reaching 1,130,179 sales.

First-hand house sales:

• November 2024: Increased by 61.7% compared to November 2023, totaling 49,274 sales, representing 32.2% of all house sales.
• Year-to-date: Increased by 24.2% compared to the same period in 2023, reaching 407,832 sales.

Second-hand house sales:

• November 2024: Increased by 64.6% compared to November 2023, reaching 103,740 sales, accounting for 67.8% of all house sales.
• Year-to-date: Increased by 13.0% compared to the same period in 2023, totaling 857,556 sales.