Turkey’s Housing Market Sees 12.4% Yearly Growth in July

Home sales in Turkey surged in July, showing a significant 12.4% increase compared to the same month last year, according to fresh data released today by the Turkish Statistical Institute (TÜİK). A total of 142,858 homes were sold across the country during the month.

Istanbul Leads, Ardahan Lags Behind

As expected, Istanbul topped the list with 23,152 homes sold, followed by Ankara with 12,491 and Izmir with 7,815. On the other end of the spectrum, the provinces with the fewest sales were Ardahan (58), Bayburt (93), and Hakkari (103).

In the first seven months of 2025, home sales across Turkey climbed by 24.2% compared to the same period last year, with a total of 834,751 properties changing hands.

Mortgage-Backed Sales Soar Over 60%

One of the standout figures in the report was the sharp rise in mortgage-backed property sales. In July alone, 18,425 homes were sold through mortgages, marking a 60.3% year-on-year increase. These accounted for 12.9% of total home sales during the month.

Looking at the January–July period, mortgaged sales saw an even more dramatic rise — up 93.2% to 121,515 units.

New Home Sales Also on the Rise

Sales of brand-new homes in July went up by 7.8% compared to the same month last year, totaling 43,984 units. New homes made up 30.8% of all property sales during the month.

From January through July, new home sales rose 17.5% year-over-year, with 251,608 units sold in total.

Secondhand Home Sales Drive Market Momentum

Resale properties continued to dominate the market, with secondhand home sales jumping 14.6% year-on-year in July. A total of 98,874 secondhand homes were sold last month, making up 69.2% of all sales.

Over the first seven months of the year, secondhand sales increased by 27.3%, reaching 583,143 units.

Foreign Buyers Pull Back

Despite the overall surge in domestic sales, demand from foreign buyers took a hit. In July, 1,913 homes were sold to foreigners — an 18.6% drop compared to the same period last year. Foreign purchases accounted for just 1.3% of total sales for the month.

The most popular cities for foreign buyers were Istanbul (643 sales), Antalya (642), and Mersin (175). Russians remained the top foreign buyers.

Conclusion: Strong Domestic Demand Fuels Market

While foreign interest appears to be cooling, Turkey’s housing market is being buoyed by strong domestic demand — especially in mortgage-backed and secondhand sales. With both economic and political factors at play, all eyes are on how this trend will carry into the rest of the year.