Turkey sees over 59,000 house sales in May

Turkey sees over 59,000 house sales in May

Turkey sees over 59,000 house sales in May

Turkey recorded 59,166 house sales in May, up 16.2% year-on-year, the country's statistical authority announced June 14. 

"Istanbul had the highest share with 19.2% and 11,356 house sales," TÜİK said in a statement.

The capital Ankara and the Aegean province of Izmir followed Istanbul with 5,653 and 3,298 house sales, respectively.

Ardahan and Hakkari were the provinces where the houses changed hand the least, with seven and 11 residential property sales respectively, the statement added.

A total of 18,204 houses were sold for the first time, increasing 8% in May versus the same month last year, TÜİK noted, adding that first house sales had a 30.8% share of all purchases in Turkey.

Mortgaged house sales were recorded at 10,560, dipping 42.9% compared to the same month last year, and making up 17.8% of all house sales in Turkey.

During the January-May period, 418,079 houses were sold in the country, down 3.8% compared to the same period in 2020.

Official data showed that residential property sales to foreigners increased 106.5% year-on-year in May, reaching 1,776 units.

Istanbul again led such sales with 818 houses, followed by the Mediterranean resort city of Antalya with 341 and Ankara with 106.

Among foreigners, Iraqi citizens topped the list with 239 houses.

They were followed by Iranians with 231 house sales and Russians with 119. In the first five-month period, house sales to foreigners totaled

15,740, increasing 24.9% on an annual basis.