TUIK: Housing Sales Statistics for October 2020

Housing sales in Turkey in October 2020 were reported at  119,574 by decreasing 16.3 percent compared to October 2019.  Istanbul had the highest share in house sales with 18.6 percent, with a total of 22,270 houses sold. Ankara came the second with 10,624-unit sales and 8.9 percent, followed by Izmir with 6,846 units and 5.7 percent share. The provinces with lowest housing sales were Ardahan with 16, Hakkari with 24 and Bayburt with 71 houses respectively.

Mortgage sales in October, showed a 49.3 percent decrease compared to the same month of the previous year with 25,566 houses. Furthermore, the share of mortgage sales in total house sales was 21.4 percent. Istanbul ranked first in mortgage sales with 5,494 units and with a 21.5 percent share. The provinces that had the lowest mortgage sales numbers were Ardahan and Hakkari with 4 houses each.

Other housing sales in Turkey increased by 1.7 percent in October compared to October 2019 with the sale of 94,008 houses. Istanbul again ranked first in other housing sales with 16, 776 houses with a share of 17,8 percent. When looked at the total house sales in Istanbul, 75.3 percent of these were other housing sales. Ankara came second with 5,154 houses and Ardahan had the least sales with 12 houses.

New houses sold for the first time in Turkey October 2020 decreased by 26.3 percent compared to October 2019 with a total of 36,976 units. 30.9 percent of the total housing sales were new houses. Istanbul had the highest share with 17.3 percent with 6,401 houses sold, followed by Ankara with 2,049 and Izmir with 1,797 houses respectively.

In October, with a total 82,598 sales, Turkey witnessed a 10.8 percent decrease in second hand house sales compared to same month of the previous year. Istanbul had the most second-hand housing sales with 15,869 houses with a share of 19,2 percent. In Istanbul, 71.3 percent of the total housing sales were second hand houses. Ankara was second with 8,215 houses sold, followed by Izmir with 5,049.

During January-October period, a total of 1,280,852 houses were sold, which indicates a 27 percent increase compared to the same period in 2019. During the period, mortgage sales rose by 124.2 percent to 534,256, and other sales showed a decrease of 3 percent to 746,596. In this period, new house sales increased by 2.3 percent to 396,184, second house sales also had a 42.5 percent increase and reached 884,668.

Housing sales to foreigners increased 23.1 percent compared to the same month of the previous year with 5,258. Istanbul had the most houses sold to foreigners with 2,458 housing sales. Antalya came second with 928 houses followed by Ankara with 347, Yalova with 187 and Bursa with 186 houses respectively.

During October, Iraqi citizens had a purchase of 909 houses in Turkey, followed by Iran citizens with 849 houses, Russians with 400, Afghan citizens with 225 and Kazakhs with 213 houses.


Translation: Cem Cetinguc

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Published By: Atilla Yeşilada

GlobalSource Partners’ Turkey Country Analyst Atilla Yesilada is the country’s leading political analyst and commentator. He is known throughout the finance and political science world for his thorough and outspoken coverage of Turkey’s political and financial developments. In addition to his extensive writing schedule, he is often called upon to provide his political expertise on major radio and television channels. Based in Istanbul, Atilla is co-founder of the information platform Istanbul Analytics and is one of GlobalSource’s local partners in Turkey. In addition to his consulting work and speaking engagements throughout the US, Europe and the Middle East, he writes regular columns for Turkey’s leading financial websites VATAN and and has contributed to the financial daily Referans and the liberal daily Radikal.