Housing Sales Statistics, October 2023
In October 2023, a total of 93,761 houses were sold across Turkey. This marked an 8.7% decrease compared to the same month in the previous year. Istanbul led in housing sales with 14,941 units, comprising 15.9% of the total. Following Istanbul, Ankara recorded 7,394 house sales (7.9% share), and Izmir had 5,192 house sales (5.5% share). On the other end, provinces such as Hakkari, Ardahan, and Bayburt reported the lowest house sales figures with 40, 43, and 80 houses, respectively.
In the broader context, housing sales experienced a 14.3% decline in the January-October period, amounting to 993,835 units.
Mortgaged housing sales saw a significant drop of 58.0% in October, totaling 5,577 units. Mortgaged sales constituted 5.9% of the overall housing sales. In the January-October period, mortgaged house sales decreased by 31.2%, reaching 166,461 units. Of the October mortgage sales, 1,369 were first-hand, and in the January-October period, 50,234 were first-hand sales.
Non-mortgaged or other housing sales in October amounted to 88,184, representing a 1.4% decrease from the previous year. Other sales made up 94.1% of total housing sales. In the January-October period, other housing sales declined by 9.9%, reaching 827,374 units.
Regarding sales type, first-hand house sales in October reached 29,230 units, indicating a 10.6% decrease from the same month in the previous year. First-hand sales accounted for 31.2% of total house sales in October and experienced a 13.6% decline in the January-October period, reaching 297,827 units.
Second-hand house sales in October totaled 64,531, reflecting a 7.8% decrease year-on-year. Second-hand sales constituted 68.8% of total house sales in October and decreased by 14.6% in the January-October period, totaling 696,008 units.
In October 2023, 2,535 houses were sold to foreigners, representing a 52.9% decline from the previous year. Antalya led in housing sales to foreigners with 931 units, followed by Istanbul with 758 units and Mersin with 294 units. Overall, housing sales to foreigners decreased by 44.4% in the January-October period, amounting to 30,599 units.
Russian Federation citizens topped the list of house buyers, acquiring 713 houses in October. Other notable nationalities included Iranian citizens (235 houses), Germany (152 houses), and Ukrainian citizens (138 houses).
The next newsletter on this subject is scheduled for December 15, 2023.