Home sales decreased in September

The Turkish Statistical Institute (TUIK) announced housing sales statistics for September 2023.

Consequently, housing sales in Turkey decreased by 9.5 percent in September compared to the same month last year, reaching 102,656.

Istanbul had the largest share in housing sales with 15,247 housing sales and 14.9 percent.

According to sales figures, Istanbul was followed by Ankara with 9.48 homes sold and a share of 8.8 percent, and Izmir with 5,476 homes sold and a share of 5.3 percent.

SALES DECREASE BY 15 PERCENT IN THE FIRST 9 MONTHS

The provinces with the lowest number of home sales were Ardahan with 47 houses, Hakkari with 55 houses and Bayburt with 77 houses.

Home sales amounted to 900,074 in the January-September 2023 period, with a decrease of 14.9 percent compared to the same period of the previous year.

50 PERCENT DECREASE IN CREDIT SALES

Mortgage home sales in Turkey decreased by 50.2 percent in September compared to the same month last year, reaching 8,446.

The share of mortgage sales in total home sales was 8.2 percent.

Sales of mortgage homes in the period January-September 2023 decreased by 29.6 percent compared to the same period of the previous year, reaching 160,884.

1,971 mortgage sales in September; 48,865 of the mortgage sales in the January-September period were first-hand sales.

Other housing sales in Turkey decreased by 2.3 percent in September compared to the same month a year earlier, reaching 94,210.

The share of other sales in total home sales was 91.8 percent. Other home sales in the January-September period decreased 10.8 percent compared to the same period of the previous year, reaching 739,190.

The number of first-hand home sales in Turkey decreased by 15.2 percent in September compared to the same month last year, reaching 30,488.

The share of first-hand home sales in total home sales was 29.7 percent. Sales of first-hand homes amounted to 268,597 in the January-September period, with a decrease of 13.9 percent compared to the same period of the previous year.

FOREIGN SALES DECREASE BY 42 PERCENT

Home sales to foreigners decreased by 42 percent in September compared to the same month of the previous year, reaching 2,930.

The share of home sales to foreigners in total home sales in September was 2.9 percent. Antalya ranked first in home sales to foreigners with 1,070 home sales.

Antalya was followed by Istanbul with 978 home sales and Mersin with 211 home sales.

THE RUSSIANS AGAIN TAKE THE LEADERSHIP

In September, citizens of the Russian Federation bought 722 houses from Turkey. Citizens of the Russian Federation were followed by citizens of Iran with 327 houses, Iraq with 191 houses, and Germany with 148 houses, respectively.