Development of the real estate sector in Turkey in May 2022– Surge In Mortgage Financed Property Sales in Turkey

A total of 122,768 real estate was sold in May 2022, which is 107.5% higher compared to the same month of the previous year. Istanbul ranks first with 22.148 house sales with a share of 18.0%, while Ankara comes second with (9.4% share) and 11,497 total sales, Izmir came third with(5.8% share) and 7,159 total sales.

In the January-May period, house sales increased by 37.7% compared to the same period of the previous year and became 575 thousand 889.

Mortgage-financed sales increased %177.8 compared to May 2021 at 29,335 and %23.9 total sales share, (May 2021: %17.8 .)

As a result of other real estate sales 93,443 real estate were sold. other real estate sales increased by 92.2% compared to May 2021. Other house sales had a 76.1% share of all house sales.

32,861 real estate were sold for the first time ( new construction sales ). The number of real estate sold for the first time increased %80.5 compared to May 2021. of all real estate sales new real estate sales share in Turkey %26.8 (May 2021: %30.8 ).

In the sale of second-hand real estate, a total of 89.907 second-hand houses were sold. Second-hand sales increased %119.5 compared to May 2021.

Real estate sales to foreigners in Turkey over the same month of the previous year increased %235.7, real estate sales to foreigners had 4.9% share of all Real estate sales in May, The most popular cities: Istanbul, Antalya, Mersin.

Data based on castrate and land registry (15.06.2022)


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