The Turkish Statistical Institute (TÜİK) has published housing sales data.

In May, over 110 thousand housing units were sold in Turkey, which is 2.4% less compared to May of the previous year.

The total sales volume from January to May decreased by 3.4%, amounting to 465,761 units.

Istanbul maintains its leading position.

The highest number of sales was recorded in Istanbul (18,814), Ankara (9,861), and Antalya (6,306).

Demand for new housing has increased.

Every third sale is for new housing: sales of new homes increased by 3.3% to 35,558, which constitutes 32.2% of the total sales volume.

From January to May, new home sales increased by 1.8%, reaching 147,899 units. Meanwhile, sales of existing homes in May decreased by 4.9%, totaling 75,030, which accounts for 67.8% of the total sales.

The demand from foreigners to purchase real estate in Turkey is growing.

The demand from foreigners to purchase real estate in Turkey almost doubled compared to April 2024. In April of this year, foreign nationals bought 1,272 housing units, and in May — 2,064 units.

The highest number of sales to foreigners was recorded in Antalya, followed by Istanbul and Mersin.

Among foreign buyers, Russian citizens are leading, followed by citizens of Iran and Ukraine.

Russians purchased 437 units in May 2024, which constitutes over 20% of all properties sold to foreigners for the month.

The source (TÜİK) in English is here.


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