Housing Sales Statistics, October 2024
In October 2024, Turkey saw a remarkable surge in housing sales, marking a 76.1% increase compared to the previous year. A total of 165,138 houses were sold across the country, highlighting a rising interest in Turkey’s property market. Major cities like Istanbul, Ankara, and Izmir led in sales, while Hakkari, Bayburt, and Ardahan recorded the fewest.
Housing Sales by City
The top cities for housing sales in October were:
- Istanbul: 24,812 houses
- Ankara: 15,257 houses
- Izmir: 8,658 houses
Meanwhile, the cities with the lowest number of sales were:
- Hakkari: 76 houses
- Bayburt: 97 houses
- Ardahan: 112 houses
Housing Sales Increase in 2024
From January to October 2024, housing sales climbed by 11.9% year-over-year, totaling 1,112,374 houses. This steady growth reflects the ongoing demand for residential property across Turkey.
Mortgaged House Sales Rebound
In October, mortgaged house sales saw a dramatic rise of 278.2%, reaching 21,095 transactions. Mortgaged sales accounted for 12.8% of total house sales in October. Despite this monthly growth, mortgaged sales from January to October fell by 31.9% from the previous year, with 113,405 homes sold through financing.
Additionally, 5,167 mortgaged first-hand homes were sold in October, while 26,869 mortgaged first-hand homes were sold over the first ten months of the year.
Other House Sales Surge
“Other” types of house sales increased by 63.3% in October, totaling 144,043 homes, making up 87.2% of total sales. From January to October, other house sales rose by 20.7%, amounting to 998,969.
First-Hand vs. Second-Hand House Sales
First-Hand Sales
- October 2024: First-hand house sales surged by 97.3% year-over-year, reaching 57,679 homes.
- January-October Period: First-hand sales increased by 20.4%, totaling 358,558.
Second-Hand Sales
- October 2024: Second-hand house sales rose by 66.5%, with 107,459 houses sold.
- January-October Period: Second-hand sales grew by 8.3%, reaching 753,816.
House Sales to Foreigners Decline
House sales to foreigners saw a 16.3% decrease in October, with 2,122 homes sold. Antalya led the market, followed closely by Istanbul and Mersin:
- Antalya: 750 houses
- Istanbul: 724 houses
- Mersin: 148 houses
From January to October, foreign sales declined by 37.2%, totaling 19,212.
Nationality-Based Housing Sales
In October, citizens of the Russian Federation led foreign purchases with 373 homes, followed by:
- Iran: 172 homes
- Ukraine: 136 homes
- Germany : 127 homes
- Iraq : 124 homes
- Kazakhstan : 99 homes
- Azerbaijan : 78 homes
- China : 59 homes
- England : 58 homes
- Saudi Arabia : 55 homes
