Development of the real estate sector in Turkey

Development of the real estate sector in Turkey in July 2020 – Housing Sales Statistics July 2020

In July a total of 229,357 properties were sold, 124.3 % more than in July 2019. Istanbul took first place with 39,432 transfers and a share of 17.2%, followed by Ankara with 26,885 (11.7% share) and Izmir with 15,614 transfers (6.8% share).

Mortgage-financed sales were 130,721 which is an increase of 900.6% compared to July 2019. The share of mortgage sales in total sales was 57.0% (July 2019: 12.8%). In mortgage sales, Istanbul ranked first with 24,000 house sales.

98,636 houses changed hands as a result of self-financed transfers. Self-financed transfers increased by 10.6% compared to July 2019. Istanbul again ranked first with 15,432 house sales and Ankara second with 8,961 sales. Izmir followed with 5,837 sales.

67,937 houses were sold for the first time (= new construction sales). The number of properties sold for the first time increased by 74.5% compared to July 2019. The sales share of new properties in Turkey in all house sales was 29.6% (July 2019: 38.1%. In new construction sales, Istanbul had the largest share followed by Ankara and İzmir.

A total of 161,420 houses changed hands in the second-hand sale of Turkish property. The second-hand sales showed a 155.0% increase compared to July 2019.

Property sales in Turkey to foreignersdecreased by 34.2% compared to the same month of the previous year. The most popular provinces were Istanbul, Antalya, Ankara, Izmir and Yalova.

Data based on cadastral and land registry office (29.08.2020)