Real Estate

House sales drop in Turkiye in November

House sales to foreigners down by 61.5% in November, 46.1% in Jan.-Nov. period

House sales decreased by 20.6% in November on a yearly basis in Türkiye, the country’s statistical authority said on Friday.

Total house sales amounted to 93,514 units in the month, the Turkish Statistical Institute (TurkStat) stated.

Istanbul had the lion’s share in the month with 16.2% or 15,187 units in November, followed by the capital Ankara with 8,250 units and the Aegean province Izmir with 5,105 units.

During the Jan.-Nov. period, house sales dropped by 14.9% to some 1.1 million units in the country.

Mortgaged house sales fell by 68.5% in November on an annual basis and by 33.6% in the first 11 months.

First-time house sales fell by 18.5% in November while 14.1% in the Jan.-Nov. period year-on-year.

“In Türkiye, second-hand house sales decreased by 21.6% in November in the January-November period, second-hand house sales decreased by 15.2%,” it noted.

In November, house sales to foreigners dropped by 61.5% and 46.1% in the 11-month period of the current year.

Russian citizens purchased 637 homes in November, followed by Iranian citizens with 234 homes, Ukrainians with 128 homes, and Kazakhstan citizens with 117 homes, according to TurkStat.

Source: aa

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