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Housing Sales Statistics, August 2024
134.155 houses were sold in Turkey in August 2024
Housing sales across Turkey increased by 9.9% in August compared to the same month of the previous year, reaching 134.155. The cities with the highest number of housing sales were Istanbul with 19.467, Ankara with 12.496 and Izmir with 7.044, while the cities with the lowest were Hakkari with 53, Ardahan with 93 and Bayburt with 116.
Housing sales increased by 1.1% in the January-August period
Housing sales increased by 1.1% compared to the same period of the previous year, reaching 806.317 in the January-August period.
Mortgaged housing sales amounted to 13.574
Mortgaged house sales in Turkey decreased by 17.1% in August compared to the same month of the previous year, reaching 13.574. The share of mortgaged sales in total house sales was 10.1%. Mortgaged house sales in the January-August period decreased by 49.8% compared to the same period of the previous year, reaching 76.485.
3.055 of mortgaged sales in August and 18.017 of mortgaged sales in the January-August period were first-hand sales.
As a result of other types of sales, 120.581 houses changed hands
Other housing sales in Turkey increased by 14.1% in August compared to the same month of the previous year, reaching 120.581. The share of other sales in total housing sales was 89.9%. Other housing sales in the January-August period increased by 13.2% compared to the same period of the previous year, reaching 729.832.
The number of first-hand housing sales was 41.913
The number of first-hand housing sales in Turkey increased by 18.7% in August compared to the same month of the previous year, reaching 41.913. The share of first-hand housing sales in total housing sales was 31.2%. In the January-August period, first-hand housing sales increased by 7.5% compared to the same period of the previous year, reaching 256.021.
92.242 houses changed hands in second-hand housing sales
Second-hand house sales in Turkey increased by 6.3% in August compared to the same month of the previous year, reaching 92.242. The share of second-hand house sales in total house sales was 68.8%. Second-hand house sales decreased by 1.6% in the January-August period compared to the same period of the previous year, reaching 550,296.
2.257 houses were sold to foreigners in August
Housing sales to foreigners decreased by 26.2% in August compared to the same month of the previous year, reaching 2.257. The share of housing sales to foreigners in total housing sales in August was 1.7%. The cities with the highest number of housing sales to foreigners were Istanbul with 838, Antalya with 696 and Mersin with 174.
Housing sales to foreigners, August 2024
House sales to foreigners decreased by 40.0% in the January-August period compared to the same period of the previous year, reaching 15.068.
Most housing sales by nationality were made to citizens of the Russian Federation
In August, the most housing sales by nationality were made to citizens of the Russian Federation with 381, Iranians with 171 and Ukrainians with 161.
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.
Can I get a bank loan to buy property in Turkey?
Yes, foreigners can obtain bank loans to purchase property in Turkey. Loans are provided based on the terms and guarantees specified by the bank.
What is the best way to communicate with sellers and real estate agents if I do not speak Turkish?
It is recommended to deal with real estate agents who speak English or to hire a certified legal translator to ensure that all terms and conditions are clearly understood.
What are the maintenance costs for properties in Turkey?
Maintenance costs vary depending on the type of property and the residential complex. They typically include cleaning costs, security, gardening, and shared facilities such as swimming pools or sports clubs.
How long does the property transfer process take?
The property transfer process usually takes from three days to two weeks, depending on the speed of completing the procedures and the availability of the necessary documents.
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.
