Turkey’s housing sales up in Oct. ’24

Turkey’s housing market boomed in October, with sales up 76.1 per cent year-on-year, totalling 165,138 units, according to official data released on Wednesday.

The highest sales were recorded in Istanbul, Ankara, and Izmir, while Hakkari, Bayburt, and Ardahan saw the fewest transactions. From January to October 2024, total sales rose by 11.9 per cent, reaching 1.1 million units.

Mortgaged home sales skyrocketed by 278.2 per cent in October, totalling 21,095, though the January-October period saw a 31.9 per cent decline. Other non-mortgaged sales reached 144,043 in October, a 63.3 per cent increase, and comprised 87.2 per cent of all October sales.

First-time sales climbed 97.3 per cent in October to 57,679 units, while second-hand sales rose by 66.5 per cent to 107,459 units.

Foreign buyers purchased 2,122 homes in October, marking a 16.3 per cent decrease year-on-year, with most sales occurring in Antalya, Istanbul, and Mersin. Russian citizens led foreign purchases with 373 transactions, followed by Iranians and Ukrainians.