Sharp decline in the housing market: Hits a 5-month low

Housing sales statistics for November, announced by the Turkish Statistical Institute (TUIK), revealed the slowdown in the real estate market with figures. Accordingly, housing sales across the country in November 2025 decreased by 7.8 percent compared to the same month last year, totaling 141 thousand 100.

ISTANBUL, ANKARA, AND IZMIR LEAD THE LIST

When the distribution of data by province is examined, it is seen that the leadership in housing sales has not changed. While Istanbul ranked first with 24 thousand 234 housing sales, Ankara was second with 12 thousand 706 sales, and Izmir was third with 8 thousand 540 sales. The province with the lowest number of sales was recorded as Ardahan with 78 houses.

Due to the impact of mortgage interest rates applied by banks, there was a decline in mortgaged housing sales. In November, mortgaged sales decreased by 1.4 percent compared to the same month of the previous year, reaching 21 thousand 499. The share of mortgaged sales in total housing sales was calculated as 15.2 percent.

SECOND-HAND SALES ALSO AFFECTED

The stagnation in the market was also reflected in second-hand housing sales. In November, second-hand sales decreased by 8.9 percent on an annual basis to 94 thousand 511. In the same period, first-hand (new) housing sales decreased by 5.4 percent and were recorded as 46 thousand 589.

DECLINE CONTINUES IN SALES TO FOREIGNERS

According to the announced data, housing sales to foreigners also showed a decrease. In November, the number of houses sold to foreigners decreased by 9.7 percent compared to the same month last year, reaching 1 thousand 943. The provinces where foreign buyers purchased the most housing were listed as Istanbul, Antalya, and Mersin.

RUSSIAN CITIZENS RANK FIRST

When evaluated on the basis of nationality, the highest number of housing purchases in November was made by Russian citizens with 310 units. Russia was followed by citizens of Ukraine and Germany.

News Source: 12punto