Last Updated on 17/10/2022
Overview of Property sales in Turkey in September 2022
Turkey’s real estate industry is a dynamic sector that usually experiences prompt changes that may impact demand and flow. MEO Consultants experts follow regularly The Turkish Statistical Institute‘s official data regarding property sales in Turkey and provide it monthly to its customers. You can also take a look at the previous months’ data below:
Properties sales in Turkey in September 2022 reached 113,402
Compared to the same month last year, property sales in Turkey fell by 22.9% in September, to 113 402. Istanbul had the most percentage with 16.8% and 19,891 home sales. Ankara and Izmir followed Istanbul with 8,812 and 6,338 home sales, respectively, and a share of 7,8 and 5,6 %. However, The three provinces with the lowest home sales were Hakkari, Ardahan, and Gümüşhane.
Even though September recorded a decrease compared to last year, home sales in Turkey grew from January to September by 11.4%, reaching 1 million 57 thousand 193.
Property sales in Turkey by type in September 2022
Second-hand property sales in Turkey reached 77,448
Compared to the same month last year, the sale of second-hand properties in Turkey fell by 24.9% in September, totaling thus 77,448. This number constitutes 68.3% of all home sales made in Turkey in September 2022. Yet, second-hand home sales grew from January through September by 12.6% over the same time last year, reaching 745,75.
brand-new property sales in Turkey in September 2022
First-time property sales in Turkey fell by 18.2% in September compared to the same month of last year, to 35,954 units. They made up thus 31.7% of all home sales. However, brand-new house sales climbed from January to September by 8.7% over the corresponding period in the previous year, reaching 312,118.
Property sales in Turkey made to foreigners in September 2022
5,049 houses were sold to foreigners
In September 2022, 5,049 homes were sold to foreigners, recording thus a decline of 23,8% compared to the same month last year. house sales made to international buyers made up 4,5% of all property sales made in September 2022. . Istanbul came in first place with 1,795 sales. Antalya, Followed it with 1,585 sales. and Mersin came in 3rd place with 335 sold homes.
Russians keep the 1st position
Russian citizens purchased 1,196 homes in Turkey in September 2022, thus making the highest share of house sales in Turkey to foreigners. Iranians and Iraqis followed them, with 592 and 433 home sales respectively.
We would like to point out that Turkey has seen an increase in Russian investment, particularly in the real estate industry, since the beginning of Russia’s invasion of Ukraine. They now top the list of international buyers of real estate in Turkey. Russian investors began making significant investments in Turkey in a variety of areas as a result of western financial sanctions.
MEO Consultants offers you a complete advisory upon request if you’re interested in real estate investment in Turkey. Learn more about our services.
