Housing sales increased in February

The Turkish Statistical Institute (TUIK) has announced housing sales statistics for February 2024.

According to the data released by TUIK, housing sales across Turkey increased by 17.3 percent in February compared to the same month of the previous year, reaching 93,902.

ISTANBUL AT THE TOP

Istanbul held the highest share in housing sales with 16,344 units sold, accounting for 17.4 percent. Istanbul was followed by Ankara with 8,300 housing sales and an 8.8 percent share, and Izmir with 5,168 housing sales and a 5.5 percent share. The provinces with the lowest number of housing sales were Ardahan with 18 units, Tunceli with 45 units, and Bayburt with 51 units, respectively.

HOUSING SALES DECREASED BY 2 PERCENT IN THE JANUARY-FEBRUARY PERIOD

Housing sales in the January-February period decreased by 2.0 percent compared to the same period of the previous year, totaling 174,210.

MORTGAGED HOUSING SALES

Mortgaged housing sales across Turkey decreased by 49.1 percent in February compared to the same month of the previous year, falling to 8,827. The share of mortgaged sales within total housing sales was 9.4 percent. Mortgaged housing sales in the January-February period decreased by 56.1 percent compared to the same period of the previous year, totaling 14,742.

Of the mortgaged sales in February, 2,060 were first-hand sales, while 3,464 of the mortgaged sales in the January-February period were first-hand sales.

Other housing sales across Turkey increased by 35.7 percent in February compared to the same month of the previous year, reaching 85,075. The share of other sales within total housing sales was 90.6 percent. Other housing sales in the January-February period increased by 10.6 percent compared to the same period of the previous year, reaching 159,468.

FIRST-HAND HOUSING SALES REACHED 28,594

The number of first-hand housing sales across Turkey increased by 21.8 percent in February compared to the same month of the previous year, reaching 28,594. The share of first-hand housing sales within total housing sales was 30.5 percent. First-hand housing sales in the January-February period increased by 5.6 percent compared to the same period of the previous year, totaling 53,857.

65,308 HOUSING UNITS CHANGED HANDS

Second-hand housing sales across Turkey increased by 15.5 percent in February compared to the same month of the previous year, reaching 65,308. The share of second-hand housing sales within total housing sales was 69.5 percent. Second-hand housing sales in the January-February period decreased by 5.0 percent compared to the same period of the previous year, totaling 120,353.

HOUSING SALES TO FOREIGNERS DECREASED BY 44.9 PERCENT

Housing sales to foreigners decreased by 44.9 percent in February compared to the same month of the previous year, falling to 1,846. In February, the share of housing sales to foreigners within total housing sales was 2.0 percent. Istanbul took the first place in housing sales to foreigners with 691 units sold. Istanbul was followed by Antalya with 659 housing sales and Mersin with 151 housing sales, respectively.

Housing sales to foreigners in the January-February period decreased by 48.0 percent compared to the same period of the previous year, totaling 3,907.

RUSSIANS PURCHASED THE MOST HOUSING

In February, citizens of the Russian Federation purchased 395 housing units from Turkey. Citizens of the Russian Federation were followed by citizens of Iran with 200 units, Iraq with 112 units, and Ukraine with 105 units, respectively.