The picture regarding the housing market in Turkey for the first 9 months of the year showed a decline in sales compared to the same period last year. In the January-September period, housing sales across the country decreased by 7.2 percent to 1 million 92 thousand 919.
In the same period, first-hand housing sales were recorded at 359 thousand 913, a decrease of 0.6 percent. Second-hand housing sales fell by 10 percent to 733 thousand 6.
While there was a decline in general sales, a contrary trend was noted in mortgaged sales. In the 9 months of the year, mortgaged housing sales increased by 24.7 percent compared to the same period last year, reaching 212 thousand 210. Other housing sales decreased by 12.5 percent to 880 thousand 709. Housing sales to foreigners also fell by 4.3 percent to 15 thousand 308.
PROVINCES WITH THE HIGHEST SALES
In the January-September period, the province with the highest number of housing sales was Istanbul with 196 thousand 736 sales. Istanbul was followed by Ankara with 95 thousand 916 sales and Izmir with 62 thousand 464 sales. Total sales in the top 10 provinces accounted for approximately 54.8 percent of housing sales across Turkey.
| Province | Housing sales | Annual change |
|---|---|---|
| Istanbul | 196 thousand 736 | 4.6 percent decrease |
| Ankara | 95 thousand 916 | 6.4 percent decrease |
| Izmir | 62 thousand 464 | 8.2 percent decrease |
| Antalya | 53 thousand 868 | 9.8 percent decrease |
| Mersin | 36 thousand 585 | 11 percent decrease |
| Bursa | 35 thousand 920 | 11 percent decrease |
| Kocaeli | 30 thousand 977 | 1 percent increase |
| Gaziantep | 29 thousand 584 | 4.2 percent decrease |
| Tekirdağ | 28 thousand 615 | 0.2 percent increase |
| Konya | 27 thousand 502 | 6.2 percent decrease |
A loss in sales stood out in the majority of the list. While sales in Antalya decreased by 9.8 percent to 53 thousand 868, an 11 percent decline was recorded in Mersin and Bursa. Sales decreased by 4.2 percent in Gaziantep and by 6.2 percent in Konya.
The two cities that diverged positively from the general trend among the top 10 provinces were Kocaeli and Tekirdağ. In Kocaeli, housing sales increased by 1 percent to 30 thousand 977. In Tekirdağ, 28 thousand 615 houses were sold with a limited increase of 0.2 percent.
While the data indicates that total sales in the housing market declined in the first 9 months of the year, the strong increase in mortgaged sales and the limited rise in Kocaeli and Tekirdağ were the prominent highlights of the period.
News Source: 12punto
