Last Updated on 11/03/2023
The real estate market in Turkey is incredibly dynamic and constantly goes through changes that could affect flow and demand. Official data on house sales in Turkey released by TUİK are carefully tracked monthly by experts at MEO Consultants to help you gain a better understanding of the Turkish real estate industry.
House sales in Turkey reached 485,622 in the year 2022
In 2022, house sales in Türkiye fell by 0.4% from the previous year to a million 485 thousand 622. Istanbul had the largest percentage of home sales in r 2022 with 259,654 transactions making 17.5%. Moreover, Ankara was in second place with 126,166 home sales and an 8.5% share. Izmir however, had a 5.6% share, with 83,502 homes sold. The lowest number of sales occurred in the provinces of Ardahan, Hakkari, and Bayburt.
Real estate sales in Turkey in December 2022
Comparing December 2022 to the same month the year before, home sales in Turkey dropped by 8.2% to 207,963. Istanbul had the highest percentage with 36,744 sales and 17.7% of the total. Yet, Ankara came second with 16,365 house sales, and Antalya was third, with 11,168 house sales, with a share of 7,9% and 5,4% respectively. However, Ardahan had 58 home sales, making it the province with the lowest sales.
Property sales in Turkey by type in December 2022
First-time home sales in Turkey
When compared to the same month the year before, first-time home sales in Türkiye climbed by 1.5% in December to 77,889. However, compared to 2021, first-time home sales fell by 0.3% in the year 2022 to become 46079. Thus, the percentage of first-time purchases was 31.0% in 2022 and 37.5% in December 2022.
Second-hand real estate sales in Turkey
In Turkey, the sale of second-hand homes fell by 13.1% in December 2022 compared to the same month the year before, to 130,074. However, sales of pre-owned homes fell by 0.5% in 2022 compared to the previous year, to 1,025,543. In December 2022 and overall in 2022, used properties made up 62.5% and 69.0% of sales, respectively.
Sales to foreigners in 2022
In 2022, the number of homes sold to foreigners climbed by 15.2% over the previous year to 67, 490. This means, 4.5% of all home sales in Turkey were to international buyers. With 24 thousand 953 sales to foreigners in 2022, Istanbul came in front. However, Antalya followed it With 21,860 sales.
Property sales to foreigners reached 6,386 in December 2022
In December, there were 6,0386 home sales to foreigners, recording a decline of 18.6% from the same month the year before. Consequently, 3.1% of all home sales went to international buyers. With 2,465 sales to overseas customers, Antalya came in top place. Then, comes Istanbul, with 1,968, and Mersin, with 663 home sales to foreigners.
Russians are the top real estate buyers in 2022
In 2022, Russian citizens purchased 16,312 homes from Turkey. Iranian citizens, who sold 8,223 homes, and Iraq citizens, who sold 6,241 homes, were followers of Russian citizens.
Moreover, Russian citizens purchased 2,403 homes from Turkey in December 2022. However, Iranians came second with 675 home sales, and Iraqis were third international buyers, with 345 home sales.
Turkey property sales by gender in 2022
In Türkiye, women purchased 484,654 houses at a share of 32.6%. While men purchased 821,132 houses at a share of 55.3%. However, women and men together purchased 24,193 houses at a share of 1.6%.
To learn more about house sales trends during the year 2022, you can check the following articles:
- March 2022
- April 2022
- May 2022
- June 2022
- July 2022
- August 2022
- September 2022
- October 2022
- November 2022
Experts from MEO Consultants evaluate the real estate market and weigh the advantages and disadvantages of various solutions. They also give you access to an integrated analysis that aids in estimating property revenue.
You can ask for a free initial consultation for an on-demand advisory. You can also check our services.
