Property in Turkey: Home sales hit hard in June

Home sales fell by 44.4 percent in June compared to the same period a year ago. Thus, the sharpest decline in sales was seen since July 2021. The year-on-year decline in home sales continued in June. According to the data of the Turkish Statistical Institute (TURKSTAT), housing sales in Turkey decreased by 44.4 percent compared to the same month of the previous year and became 83 thousand 636 in June.

Istanbul had a 16.2 percent share with the sale of 13 thousand 578 houses. Istanbul was followed by Ankara with 7 thousand 325 housing sales and 8.8 percent share, Antalya with 4 thousand 503 housing sales and 5.4 percent share.

Sales of mortgaged houses throughout Turkey decreased by 66.8 percent in June compared to the same month of the previous year and became 13 thousand 463. The share of mortgage-backed sales among total housing sales is 16.1 percent. June January-June mortgage home sales decreased by 28.6 percent compared to the same period of the previous year and amounted to 121 thousand 530.

NEW HOUSE SALES FALL SHARPLY

The number of zero housing sales in Turkey decreased by 42.1 percent in June compared to the same month of the previous year and became 25 thousand 886. The share of zero housing sales in total housing sales was 31 percent. January-June zero housing sales decreased by 17.9 percent compared to the same period of the previous year and became 171 thousand 158.

SECOND HAND HOUSES

Sales of used houses in Turkey totaled 57 thousand 750 in June with a decrease of 45.4 percent compared to the same month of the previous year. The share of second-hand housing sales among total housing sales was 69 percent. January-June second-hand housing sales decreased by 23.8 percent compared to the same period of the previous year and was recorded as 394 thousand 621.

SALES TO FOREIGNERS DECLINE

Housing sales to foreigners decreased by 69.6 percent in June compared to the same month of the previous year and became 2 thousand 625. The share of sales to foreigners among total housing sales in June was 3.1 percent. Antalya took the first place in housing sales to foreigners with 1004 housing sales. Antalya was followed by Istanbul with 760 housing sales and Mersin with 223 housing sales respectively.