TÜİK data released: Decline observed in housing sales to foreigners

According to data released by TÜİK, housing sales across Turkey increased by 16 percent in July, reaching 127,088. However, while mortgaged sales fell by 20.9 percent, housing sales to foreigners also decreased by 16.1 percent.

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TÜİK data released: Decline observed in housing sales to foreigners

The Turkish Statistical Institute (TÜİK) has released housing sales statistics for July 2024.

Accordingly, housing sales across Turkey increased by 16 percent in July compared to the same month of the previous year, reaching 127,088. The provinces with the highest number of housing sales were Istanbul with 19,047, Ankara with 11,364, and Antalya with 6,659, while the provinces with the lowest were Ardahan with 61, Hakkâri with 64, and Bayburt with 77.

Housing sales in the January-July period decreased by 0.5 percent compared to the same period of the previous year, totaling 672,162.

MORTGAGED SALES FELL SHARPLY

Mortgaged housing sales across Turkey decreased by 20.9 percent in July compared to the same month of the previous year, totaling 11,496. The share of mortgaged sales in total housing sales was 9.0 percent. Mortgaged housing sales in the January-July period decreased by 53.8 percent compared to the same period of the previous year, totaling 62,911.

Of the mortgaged sales in July, 2,786 were first-hand sales; in the January-July period, 14,962 of the mortgaged sales were first-hand sales.

Other housing sales across Turkey increased by 21.7 percent in July compared to the same month of the previous year, reaching 115,592. The share of other sales in total housing sales was 91.0 percent. Other housing sales in the January-July period increased by 13.0 percent compared to the same period of the previous year, reaching 609,251.

FIRST-HAND HOUSING SALES INCREASED

The number of first-hand housing sales across Turkey increased by 28.9 percent in July compared to the same month of the previous year, reaching 40,784. The share of first-hand housing sales in total housing sales was 32.1 percent. First-hand housing sales in the January-July period increased by 5.6 percent compared to the same period of the previous year, reaching 214,108.

Second-hand housing sales across Turkey increased by 10.8 percent in July compared to the same month of the previous year, reaching 86,304. The share of second-hand housing sales in total housing sales was 67.9 percent. Second-hand housing sales in the January-July period decreased by 3.1 percent compared to the same period of the previous year, totaling 458,054.

SALES TO FOREIGNERS ARE FALLING

Housing sales to foreigners decreased by 16.1 percent in July compared to the same month of the previous year, totaling 2,350. In July, the share of housing sales to foreigners in total housing sales was 1.8 percent. The provinces with the highest number of housing sales to foreigners were Antalya with 878, Istanbul with 752, and Mersin with 218.

In July, by country of citizenship, the highest number of housing sales were made to citizens of the Russian Federation with 485, Ukraine with 171, and Germany with 162.

News Source: 12punto