Last Updated on 16/11/2022
Overview of Tukey house sales in October 2022
The real estate market in Turkey is very dynamic and frequently encounters quick changes that could affect flow and demand. Experts from MEO Consultants regularly follow Official data regarding Tukey house sales on a monthly basis and provide their customers with regular overviews for a better perception of the Turkish real estate market.
Turkey house sales reached 102,660 in October 2022
According to the TUIK-released data, Turkey house sales reached 102,660 in October 2022.
Yet, when compared to the same month last year, property sales in Turkey fell by 25.3%. Moreover, Istanbul had the highest share with 16.5% and 16,987 houses sold. Ankara and Antalya followed it with respective market shares of 7.9% and 6.2% and 8,146 and 6,323 home sales, respectively. However, the lowest numbers of sales were in the provinces of Hakkari (30), Ardahan (42), and Bayburt (69) houses.
Meanwhile, home sales in Turkey grew in the period January-October by 6.7%, reaching one million 159 thousand 853 units.
Turkey house sales by type in October 2022
Second-hand house sales in Turkey
In Turkey, the sale of second-hand homes fell by 26.7% in October compared to the same month the year before, totaling thus 69,968. Note that this number constitutes 68.2% of all Turkey house sales in October 2022. However, when compared to the year 2021, second-hand home sales in Turkey climbed by 7.6% with 81543 sales in the period January-October 2022.
Brand-new Turkey house sales in October 2022
First-time Turkey house sales fell by 22.0% in October compared to the same month the year before, reaching 32,692. Yet, first-time sales in Turkey made up 31.8% of all home sales. Moreover, it climbed by 4.8% totaling 344,810 sales in the period January-October 2022 compared to the year 2022.
Turkey house sales to foreigners in October 2022
Foreigners bought 5377 units in October 2022
When compared to the same month last year, the number of Turkey house sales made to foreigners fell by 8.8% in October to 5377. It made up 5.2% of all home sales in Turkey. Moreover, Antalya ranked first in home sales to international buyers with 2,123 sales. Istanbul followed it, with 1658 home sales. Mersin was in the 3rd position with 490 home sales.
The number of homes sold to foreigners throughout January through October climbed by 26.9% over the same time last year, to 55021.
Russians are the number 1 buyers
Russian citizens purchased 2231 homes from Turkey in October. Iranians yet were in second place with 498 homes. Iraqis got 3rd position with 310 house sales in October 2022.
Besides Russian, other Russian-speaker nationals like Ukrainians and Kazakhs were also among the top 5 international buyers of Turkish properties in October 2022. This data can be explained by the recent investment interest of these nationals in Turkey, especially after the conflict situation that has been occurring since February 2022. Since then, Turkey has noticed an unprecedentedly important investment flow from Russian nationals due to many factors.
In fact, Russian investors have been making large investments in Turkey across a range of sectors mainly the real estate sector to escape western financial sanctions.
You can take a look at Turkey house sales in the previous 7 months:
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