Home sales rose in July

The Turkish Statistical Institute (TUIK) announced the home sales statistics for July 2023. Home sales increased 16.7 percent in July from the same month a year earlier, reaching 109,548.

According to the data announced by TURKSTAT, home sales in Turkey increased by 16.7 percent in July compared to the same month a year earlier and became 109,548.

Home sales fell 44.4 percent on-year in June, the worst drop in two years. The annual drop in June also recorded its fifth month. The July increase also put an end to the series of declines in sales.

MOST SOLD HOUSES IN ISTANBUL

Istanbul had the highest share of home sales with 15,724 home sales and 14.4 percent. Based on the number of sales, Istanbul was followed by Ankara with 9,688 home sales and a 8.8 percent share, and Izmir with 5,203 home sales and a 4.7 percent share. The provinces with the fewest number of houses sold were Ardahan with 27 houses, Hakkari with 40 houses and Tunceli with 91 houses, respectively.

The purchase and sale of homes decreased 17.7 percent in the January-July period compared to the same period of the previous year and amounted to 675 thousand 327.

HOUSING SALE OF HOUSING WITH HOUSING MOUNTED 14 thousand 533

Sales of mortgaged homes in Turkey decreased by 24.1% in July compared to the same month of the previous year and became 14,533. The share of mortgaged sales in total home sales was 13.3 percent. . The purchase and sale of mortgaged homes in the January-July period, for its part, decreased 28.2 percent compared to the same period of the previous year and went to 136 thousand 63.

3 thousand 633 of the mortgage sales of July; 43,132 of the mortgaged sales in the January-July period were first-hand sales.

Other home sales in Turkey increased by 27.1 percent in July compared to the same month of the previous year and became 95 thousand 15. The share of other sales in total home sales was 86.7 percent. . Other home sales carried out in the January-July period, for their part, decreased 14.5 percent compared to the same period of the previous year and stood at 539,264.

FIRST-HAND HOME SALE INCREASED 10.3 PERCENT

The number of first-hand house sales in Turkey increased by 10.3 percent in July compared to the same month of the previous year and became 31,641. The share of first-hand house sales in sales total houses was 28.9 percent. In the January-July period, first-hand home sales decreased by 14.5 percent compared to the same period of the previous year and amounted to 202,799.

Second-hand home sales in Turkey rose 19.5 percent in July from the same month a year earlier to 77,907. The share of existing home sales in total home sales was 71.1 percent. Second-hand home sales, for their part, decreased by 19.0 percent in the January-July period compared to the same period of the previous year, and amounted to 472,528.

FOREIGN SALES DROPPED

The sale of homes to foreigners decreased by 28.9 percent in July compared to the same month of the previous year and went to 2,801. In July, the share of home sales to foreigners in total home sales was 2.6 percent. Antalya ranked first in house sales to foreigners with the sale of 996 houses. Antalya was followed by Istanbul with 832 sales and Mersin with 263 sales, respectively.

In the January-July period, the sale of homes to foreigners decreased 43.9 percent compared to the same period of the previous year and went to 22 thousand 76.

RUSSIANS TAKE MOST

In July, citizens of the Russian Federation bought 772 residences from Türkiye. Citizens of the Russian Federation were followed by Iran with 272 residences, Iraq with 204 residences, and Ukraine with 146 residences.