Turkey’s house sales rises in August ’24

House sales in Turkey rose by 9.9 per cent year-on-year in August 2024, reaching 134,155 transactions, according to official government data. The highest sales were recorded in Istanbul, Ankara, and Izmir, while Hakkari, Ardahan, and Bayburt recorded the lowest figures.

For the first eight months of 2024, total house sales increased by 1.1 per cent to 806,317. Mortgaged house sales dropped significantly, falling by 17.1 per cent in August to 13,574 and by 49.8 per cent year-to-date to 76,485.

Mortgaged sales accounted for 10.1 per cent of August transactions.

Other house sales surged by 14.1 per cent in August, totalling 120,581 and making up 89.9 per cent of all sales. First-time house sales also witnessed a notable increase of 18.7 per cent in August, reaching 41,913 units.

However, sales to foreigners decreased by 26.2 per cent in August to 2,257, with Russians, Iranians, and Ukrainians being the top buyers.

Overall, second-hand house sales increased by 6.3 per cent in August to 92,242 but fell by 1.6 per cent year-to-date to 550,296.