Real Estate

House sales in Turkiye soar 20.6% in March

More than 137,000 houses changed hands last month, over 5,500 sold to foreign nationals, according to official data

Residential property sales in Turkiye surged 20.6% year-on-year in March, according to the latest data released on Friday.

A total of 134,170 houses changed hands last month, up from 111,241 in March 2021, the Turkish Statistical Institute (TurkStat) reported.

Mortgaged house sales amounted to 30,271 in March, up 38.8% year-on-year, accounting for 22.6% of all sales.

Sales to foreign buyers jumped by 31% to 5,567 units last month.

Istanbul, Turkiye’s largest city in terms of population, had the lion’s share of sales to foreign buyers 2,245 units.

The Mediterranean resort city of Antalya followed with 1,434 properties and the capital Ankara was third with 347.

Among foreign nationals, Iranians bought the most houses 784, followed by Iraqis with 741 purchases and Russians 547.

In January and March, 320,063 residential properties were sold in Turkiye, increasing by 21.7% compared to the same period of last year.

Sales to foreigners in the first three months jumped 45.1% on an annual basis to 14,344, according to the data.


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