Development of the real estate sector in Turkey - May 2019

In May, 82,252 properties were sold, 31,3% less than in May of the previous year. Istanbul took first place with 15,895 transfers and a share of 19,3%, followed by Ankara with 8,240 (10%) and Antalya with 5,091 transfers (6,2%).

Mortgage-financed purchases fell by 85,8% to 5,231 properties. In total 6,4% of all transfers were financed by mortgages. Istanbul (1,163 properties) has the top position.

Self-financed transfers also decreased by 7% to 77,021. Istanbul (14,732), Ankara (7,658) and Antalya (4,829) are in the lead here.

At 33,443 properties, new construction sales were 8,6% down compared to the same month last year. The sale of new build properties has a total share of 39,6% of all real estate sales for April 2019. The resale of properties decreased by 8,3% to 50,960 properties.

Transfers of real estate to foreign citizens increased by 82,1 % year-on-year. The most popular provinces were Istanbul, Antalya, Ankara, Bursa and Yalova.

Data based on cadastral and land registry office (status 17.06.2019).

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