Development of the real estate sector in Turkey

Development of the real estate sector in Turkey in October 2021 – Surge In Mortgage Financed Property Sales in Turkey

A total of 137,401 real estate were sold in October 2021, which is 14,9% more than October 2020. Istanbul ranks first with 26.041 house sales with a share of 19.0%, while Ankara comes second with (9.8% share) and 13,466 total sales, Izmir came third with(6.0% share) and 8,218 total sales.

Mortgage-financed sales increased %9,7 compared to October 2020 at 28,049 and %20,4 total sales share, (October 2020: %21,4 ). In January-October period, mortgaged house sales decreased by 60.7% compared to the same period of the previous year.

As a result of self-financing transfers 109,352 houses were sold. Self-financing transfers increased by 16.3% compared to October 2020. Other house sales had a 79.6% share of all house sales. In the January-October period, self-financed house sales increased by 17.4% compared to the same period of the previous.

41,914 houses were sold for the first time ( new construction sales ). The number of homes sold for the first time increased %13,4 compared to October 2020. of all home sales new real estate sales share in Turkey %30,5 (October 2020: %30,9 ). In January-October period, first time house sales decreased by 16.9% compared to the same period of the previous year.

In the sale of second-hand real estate, a total of 95,487 second-hand houses were sold. Second-hand sales increased %15,6 compared to October 2020.

Real estate sales to foreigners in Turkey over the same month of the previous year increased %12.1. The most popular cities: Istanbul, Antalya, Ankara.

Data based on cadastre and land registry (15.11.2021)