Türkiye’s home sales surge by 9.9 percent last month
Date
9/17/2024 7:39:50 AM
(MENAFN) In August, Türkiye experienced a notable increase in house sales, with the total number of units sold rising by 9.9 percent compared to the same month last year. According to the Turkish Statistical Institute (TurkStat), the number of homes sold reached 134,155 units. This surge in sales reflects a robust performance in the housing market, following a period of more muted activity.
Istanbul emerged as the leading city in terms of house sales, with a substantial 19,467 units sold. The capital city, Ankara, followed with 12,496 units, while Izmir, located on the Aegean coast, recorded 7,044 sales. These figures illustrate the significant regional variations in housing market activity, with major urban centers continuing to dominate in terms of transaction volume.
However, the market for house sales to foreigners showed a sharp decline in August. Sales to international buyers fell by 26.2 percent year-on-year, totaling just 2,257 units. Among foreign buyers, Russians were the most active, purchasing 381 homes, followed by Iranians with 171 units and Ukrainians with 161. This drop in foreign investment could be attributed to various factors, including economic conditions and changes in market dynamics.
Over the period from January to August, house sales in Türkiye increased slightly by 1.1 percent compared to the same period in the previous year, totaling 806,317 units. In contrast, house sales to foreigners during the same period saw a significant decrease of 40 percent, with only 15,068 units sold. This decline in foreign purchases underscores a shift in the market, reflecting both domestic and international influences on housing demand.
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