Sharp drop in home sales
The Turkish Statistical Institute (TUIK) announced the house sales statistics for June 2023.
Accordingly, home sales in Turkey decreased by 44.4 percent in June compared to the same month of the previous year and became 83,636. This was recorded as the steepest decline in two years proportionally. Last time around, in July 2021, home sales were down 53 percent compared to the same month a year earlier.
The purchase and sale of homes in the January-June period decreased 22.1 percent compared to the same period of the previous year and amounted to 565 thousand 779.
Istanbul had the highest share of home sales with 13,578 houses and 16.2 percent.
Based on the number of sales, Istanbul was followed by Ankara with 7,325 home sales and an 8.8 percent share, and Antalya with 4,503 home sales and a 5.4 percent share.
The provinces with the fewest number of houses sold were Ardahan with 17 houses, Hakkari with 29 houses and Tunceli with 44 houses, respectively.
66.8 PERCENT DECLINE IN LOAN SALES
Sales of foreclosed houses in Turkey decreased by 66.8 percent in June compared to the same month of the previous year and became 13,463.
The share of mortgage sales in total home sales was 16.1 percent.
The purchase and sale of mortgaged homes in the January-June period, for its part, decreased 28.6 percent compared to the same period of the previous year and stood at 121,530.
4,698 of the mortgaged sales of June; 39,499 of the mortgaged sales in the January-June period were first-hand sales.
In Turkey, sales of other houses decreased by 36.1 percent in June compared to the same month of the previous year and became 70,173.
The share of other sales in total home sales was 83.9 percent. Other home sales carried out in the January-June period, for their part, decreased 20.1 percent compared to the same period of the previous year and stood at 444,249.
SALES ABROAD DECREASED 69.6 PERCENT
The sale of homes to foreigners decreased 69.6 percent in June compared to the same month of the previous year and went to 2,625.
In June, the share of home sales to foreigners in total home sales was 3.1 percent.
Antalya ranked first in house sales to foreigners with the sale of 1,044 houses. Antalya was followed by Istanbul with 760 house sales and Mersin with 223 house sales, respectively.
AGAIN, THE RUSSIANS OWN THE MOST OF THE HOMES
The sale of homes to foreigners decreased by 45.5 percent in the January-June period compared to the same period of the previous year and went to 19,275.
In June, citizens of the Russian Federation bought 733 houses from Türkiye.
Citizens of the Russian Federation were followed by Iran with 333 residences, Iraq with 175 residences, and Ukraine with 168 residences.