127 thousand 88 houses were sold in Turkey
In Turkey, house sales increased by 16.0% in July compared to the same month of the previous year and became 127 thousand 88. The provinces with the highest number of house sales were Istanbul with 19 thousand 47, Ankara with 11 thousand 364 and Antalya with 6 thousand 659, while the provinces with the lowest number were Ardahan with 61, Hakkari with 64, Bayburt with 77.
House sales decreased by 0.5% in January-July 2024
In January-July period, house sales decreased by 0.5% compared to the same period of the previous year and became 672 thousand 162.
Mortgaged house sales became 11 thousand 496
In Turkey, mortgaged house sales decreased by 20.9% in July compared to the same month of the previous year and became 11 thousand 496. Mortgaged house sales had 9.0% share of all house sales. In January-July period, mortgaged house sales decreased by 53.8% compared to the same period of the previous year and became 62 thousand 911.
2 thousand 786 of mortgaged house sales in July and 14 thousand 962 of mortgaged house sales in January-July period were first sales.
Other house sales became 115 thousand 592
In Turkey, other house sales increased by 21.7% in July compared to the same month of the previous year and became 115 thousand 592. Other house sales had 91.0% share of all house sales. In January-July period, other house sales increased by 13.0% compared to the same period of the previous year and became 609 thousand 251.
40 thousand 784 houses were sold for the first time
In Turkey, first time house sales increased by 28.9% in July compared to the same month of the previous year and became 40 thousand 784. First sales had 32.1% share of all house sales. In January-July period, first time house sales increased by 5.6% compared to the same period of the previous year and became 214 thousand 108.
Second hand house sales became 86 thousand 304
In Turkey, second hand house sales increased by 10.8% in July compared to the same month of the previous year and became 86 thousand 304. Second hand sales had 67.9% share of all house sales. In January-July period, second hand house sales decreased by 3.1% compared to the same period of the previous year and became 458 thousand 54.
In July, 2 thousand 350 houses were sold to foreigners
House sales to foreigners decreased by 16.1% in July compared to the same month of the previous year and became 2 thousand 350. House sales to foreigners had 1.8% share of all house sales in July. The provinces with the highest number of house sales to foreigners were Antalya with 878, İstanbul with 752 and Mersin with 218.
House sales to foreigners, July 2024
In January-July period, house sales to foreigners decreased by 42.0% compared to the same period of the previous year and became 12 thousand 811.
House sales were mostly made to Russia citizens according to nationalities
In July, the most house sales by nationality were made to citizens of the Russia with 485, Ukraine with 171 and Germany with 162.
Frequently asked questions
Can foreigners buy property in Turkey?
Yes, foreigners can buy property in Turkey provided there are no security or military restrictions that exclude certain areas from foreign ownership.
How can I verify the legal status of the property?
You should verify the validity of the title deed (tapu) and ensure that there are no debts or mortgages on the property through the Land Registry Office and with the assistance of a specialized lawyer.
Can I rent out the property that I bought in Turkey?
Yes, foreigners can rent out their properties in Turkey, and good rental income can be achieved, especially from tourist properties in major tourism cities like Istanbul, Antalya, and Trabzon.
What should I do if I encounter a legal issue related to the property?
You should seek the assistance of a lawyer specialized in real estate issues in Turkey to obtain legal advice and follow the appropriate legal procedures to resolve the dispute.
What is property appraisal and why is it important?
Property appraisal is the process of determining the current market value of the property. It is important for setting a fair price for selling or purchasing the property.
Can I obtain Turkish citizenship by purchasing property?
Yes, Turkish citizenship can be obtained by purchasing property or multiple properties with a total value of at least $400.000 USD, provided the properties are not sold for three years.
