In Turkiye, 165.138 houses were sold in October which, compared to October 2023, saw an increase of 71,377 in sales.
House sales increased by 76.1% year-on-year in October, according to the country’s statistical bureau TurkStat yesterday, Wednesday 13th November. This tells us that there appears to be a revival in the housing market with Domestic investors showing more interest.
Mortgaged sales jumped 278.2% on an annual basis in October to 21,095, while accounting for 12.8% of all house sales, TurkStat said.
Foreign purchasers decreased in number to16.3% year-on-year in October to 2,122.
Top cities for foreign homebuyers in Türkiye
Despite the slowdown, Antalya and Istanbul remain the top destinations for foreign property buyers, with the list of preferred cities as follows:
- Antalya: 6,740 properties sold
- Istanbul: 6,703 properties sold
- Mersin: 1,692 properties sold
- Ankara: 497 properties sold
- Yalova: 468 properties sold
- Bursa: 461 properties sold
- Kocaeli: 344 properties sold
- Aydin: 318 properties sold
- Izmir: 308 properties sold
- Mugla: 299 properties sold (ref: https://www.turkiyetoday.com/)
The highest number of foreign house buyers was from Russia with 373, followed by Iran with 172, and Ukraine with 136.
In January-July, a total of 1.1 million houses were sold, registering an increase of 11.9% on an annual basis.
During this period, house sales to foreigners fell 37.2%, reaching 19,212.
Sales in the Aydin District, which includes tourist hotspots Kuşadası, and Didim increased by 48% approximately.
In October 2023 – 2,077 houses were sold, and 3,070 houses were sold in October 2024.
301 of these houses were sold with a mortgage. While 2,260 of the houses sold were second-hand houses, 810 houses were sold for the first time.
Kusadasi Property Direct report that Investor interest is slightly up this year to date. https://kusadasipropertydirect.com/
The construction cost index increased by 38.93% annually, and increased by 0.57% monthly
The construction cost index increased by 0.57% in September 2024 compared to the previous month, and increased by 38.93% compared to the same month of the previous year. The material index increased by 0.77%, and the labor index increased by 0.18% compared to the previous month. In addition, the material index increased by 31.56%, and the labor index increased by 56.68% compared to the same month of the previous year.
Ref: https://www.turksat.com.tr/
