Housing sales in Turkey experienced a significant decline of 44.4% in the month of June compared to the same period last year, reaching a total of 83,636 units sold, Turkey’s statistical institute TUIK said on Friday.
Istanbul claimed the highest share in housing sales, with 13,578 units sold, accounting for 16.2% of the market.
Following Istanbul, Ankara secured the second position in terms of sales volume with 7,325 units sold and an 8.8% market share. Antalya came in third with 4,503 units sold, representing a 5.4% market share.
The provinces with the lowest number of housing sales were Ardahan, with only 17 units sold, followed by Hakkari with 29 units, and Dersim with 44 units.
During the January-June period, housing sales in Turkey experienced a decline of 22.1% compared to the same period the previous year, with a total of 565,779 units sold.
As credit costs increased, the number of mortgage-based housing sales in Turkey witnessed a significant drop of 66.8% compared to the same month in the previous year, totaling 13,463 units. Mortgage-based sales accounted for 16.1% of the total housing sales. Moreover, during the January-June period, mortgage-based housing sales amounted to 121,530 units, indicating a decline of 28.6% compared to the same period last year.
Second-hand housing sales in Turkey also experienced a significant decline of 45.4% compared to the same month the previous year, with a total of 57,750 units sold. Second-hand sales accounted for 69.0% of the total housing market.
Housing sales to foreigners in Turkey witnessed a considerable decrease of 69.6% compared to the same month the previous year, amounting to 2,625 units. Foreign buyers accounted for 3.1% of the total housing market with southern Antalya still topping the list with 1,004 units sold. It was followed by Istanbul with 760 units sold and Mersin with 223 units sold.