Housing sales reach lowest level in the last 9 months

The Turkish Statistical Institute (TÜİK) has announced housing sales statistics for March. Accordingly, the number of housing sales across Turkey reached 110,795 in March, an increase of 5.1 percent compared to the same month last year.

MOST SALES IN ISTANBUL

The province with the highest number of housing sales in March was Istanbul. A total of 19,820 homes were sold in the megacity. Istanbul was followed by Ankara with 10,203 homes and İzmir with 7,513 homes. These three major cities accounted for a significant portion of total sales. The provinces with the fewest housing sales were Ardahan, Bayburt, and Tunceli. It was announced that only 28 homes were sold in Ardahan, 33 in Bayburt, and 63 in Tunceli.

NEW HOUSING SALES ON THE DECLINE

The number of first-hand housing sales across Turkey decreased by 3.2 percent in March compared to the same month of the previous year, totaling 33,307. The share of first-hand housing sales in total housing sales was 30.1 percent. First-hand housing sales in the January-March period increased by 13.2 percent compared to the same period of the previous year, reaching 99,876.

SECOND-HAND HOUSING SALES INCREASED

The number of second-hand housing sales across Turkey increased by 9.1 percent in March compared to the same month of the previous year, reaching 77,488. The share of second-hand housing sales in total housing sales was 69.9 percent. Second-hand housing sales in the January-March period increased by 23.3 percent compared to the same period of the previous year, reaching 235,910.

FOREIGN HOUSING SALES DECREASED

Housing sales to foreigners decreased by 11.5 percent in March compared to the same month of the previous year, totaling 1,574. In March, the share of housing sales to foreigners in total housing sales was 1.4 percent. The provinces with the highest number of housing sales to foreigners were Istanbul with 635, Antalya with 496, and Mersin with 141.

News Source: 12punto