Major increase in housing sales: Which cities were preferred the most?

The Turkish Statistical Institute (TÜİK) has announced the Housing Sales Statistics for January 2025. According to the released data, housing sales across the country increased by 39.7% compared to the same period last year, reaching 112,173. The provinces with the highest sales volume were Istanbul (18,912), Ankara (10,158), and Izmir (6,634), while the lowest sales were recorded in Ardahan (39), Bayburt (62), and Tunceli (80).

RECORD INCREASE IN MORTGAGE-BACKED SALES

In January, mortgage-backed housing sales increased by 182.8% compared to the same period of the previous year, reaching 16,726. The share of mortgage-backed transactions in total sales was calculated at 14.9%. During the same period, the number of mortgage-backed housing units recorded as first-hand sales was 3,856.

SECOND-HAND HOUSING SALES STOOD OUT

Housing transactions made through other sales methods amounted to 95,447, representing a 28.3% increase compared to the same month last year. Thus, the share of transactions made through other methods in total sales was 85.1%.

First-hand housing sales increased by 29.8% to 32,785, while second-hand housing sales were recorded at 79,388 with a 44.2% jump. Consequently, second-hand housing units accounted for 70.8% of total sales.

SALES TO FOREIGNERS DECLINED

In January, the number of housing units sold to foreigners decreased by 24.9% to 1,547. The share of foreign investors in housing purchases remained at 1.4%. The cities with the highest number of sales were Istanbul (611), Antalya (469), and Mersin (118), respectively.

RUSSIAN CITIZENS AT THE TOP

In January, citizens of the Russian Federation were the top buyers among foreign purchasers, acquiring 248 units. They were followed by Iranians with 162 units and Iraqis with 103 units.

News Source: İHA