Home sales in Turkey grew by 12.4% in July compared to the same month last year, while property purchases by foreigners fell by 18% with Russian nationals being the top buyers, according to the latest data released by the Turkish Statistical Institute (TÜİK).
The latest report presented by TÜİK earlier today states that a total of 142,858 homes were sold in Turkey in the month of July, up 12.4% from July 2024, while between January and July sales increased by 24.2% to 834,751 houses. The provinces where the most homes were bought were Istanbul (23,152 in total), followed by Ankara (12,491) and Izmir (7,815), while the lowest figures were recorded in the provinces of Ardahan (58), Bayburt (93) and Hakkari (103).
Sales of mortgaged homes increased by 60.3% in July to 18,425 properties; while still accounting for only 12.9% of all homes purchased in Turkey in July, the purchase of real estate by mortgage increased by 93.2% between January and July, with the vast majority of mortgages – more than 75% – being for second-hand properties.
In terms of new housing, they accounted for 30.8% of the total number of homes purchased in July in Turkey (a total 43,984 new homes) and their sales grew by 7.8% compared to the previous year. Between January and July, 251,608 new homes were sold in Turkey (up 17.5% compared to the same period in 2024) and 583,143 second-hand homes (up 27.3%).
As for house sales in Turkey to foreigners, they fell by 18.6% last July to only 1,913 properties, accounting for only 1.3% of the total number of properties sold in the whole country. By provinces, purchases by non-Turkish nationals were mainly in Istanbul (643), Antalya (642) and Mersin (175), while by nationality, once again Russian nationals were the main buyers.
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Edited and reviewed by:
Pablo Gómez is a specialist in Turkey and has been editor-in-chief of Hispanatolia since 2011. He has been analysing current affairs and geopolitics in Turkey and the surrounding region since 2006.
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