Turkish Real Estate Market Update September'23
Dear Followers,
We're delighted to present the latest insights from the Turkish Statistical Institute (TUIK) for September 2023, focusing on the Turkish real estate market.
This data is especially relevant for those in the investment and real estate sectors. It represents opportunities for investors seeking to capitalize on the dynamic Turkish housing market and for real estate agents looking to provide valuable guidance to their clients.
Let's look into the key highlights from Türkiye's House Sales Statistics in September 2023, providing you with valuable insights into the current state of the market.
Total House Sales:
In September, Türkiye witnessed the sale of 102,656 houses. ?stanbul led the pack with the highest share, accounting for 14.9% of the total, translating to 15,247 house sales. ?stanbul was followed by Ankara, where 9,048 houses were sold and ?zmir with 5,476 house sales, capturing 8.8% and 5.3% of the market, respectively.
House Sales by Type
Non-mortgaged house sales reached 94,210 in Türkiye for the month of September, reflecting a 2.3% decrease when compared to the same month in the previous year. These non-mortgaged house sales accounted for a substantial 91.8% of all house sales during this period. Looking at the broader context, in the January-September timeframe, non-mortgaged house sales experienced a 10.8% decline, totaling 739,190 transactions compared to the same period in the previous year.
House Sales to Foreigners
During September, Türkiye saw the sale of 2,930 houses to foreign buyers. These foreign property purchases constituted 2.9% of all house sales in September. Notably, Antalya took the lead with 1,007 sales to foreigners, followed by ?stanbul with 978 house sales and Mersin with 211 house sales to foreign buyers.
House Sales by Nationalities
In terms of nationalities, the majority of house sales in September were attributed to Russian citizens, who purchased a total of 722 houses in Türkiye. Following closely behind were Iranian citizens with 327 house sales, Iraqis with 191 house sales, and Germans with 148 house sales, rounding out the top nationalities in real estate transactions during this period.
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