Home sales rise 17.6 percent to 130,000 units in May

ANKARA

Home sales increased by 17.6 percent year-on-year in May to 130,000 units, showed data from the Turkish Statistical Institute (TÜİK) on June 19.

The pace of annual growth in sales in the housing market slowed from a whopping 57 percent in April.

Last month, mortgage home sales surged 95.9 percent from a year to 19,412, corresponding to 14.9 percent of all sales in the market.

Istanbul, once again, was the hottest property market with home sales at 22,103 units, followed by Ankara at 11,975 and İzmir at 7,817.

The decline in sales to foreign nationals continued in May, according to TÜİK data.

Foreign nationals purchased a total of 1,771 homes in Türkiye, marking 14.2 percent compared to the same month of last year. 

Foreigners bought 648 residential properties in Istanbul, 594 in the tourism hotspot Antalya and 145 in the southern province of Mersin.

Russians were the largest buyers among foreigners. They purchased 274 homes in Türkiye last month. Iranians and Germans ranked second and third at 133 and 127, while Ukrainians purchased 113 homes in the country.

From January to May, home sales to foreign nationals plunged 13.7 percent annually to 7,789 units.

In the first five months of 2025, the housing market expanded 25.4 percent year-on-year, with total home sales amounting to 584,170 units.