Türkiye sees over 127,000 home sales in August

Nationwide sales fall 14.7% year-on-year, while mortgaged transactions rise 7.2%

Türkiye recorded 127,410 home sales in August, down 14.7% from the same month last year, official data showed Thursday. According to the Turkish Statistical Institute (TurkStat), sales of new homes declined 4.5% year-on-year to 44,378, accounting for 34.8% of total transactions. Istanbul recorded the highest number of house sales among Türkiye’s provinces with 20,426, followed by the capital Ankara with 10,851 and the western province of Izmir with 6,532. Sales of existing homes dropped 19.4% to 83,032, representing 65.2% of the total. Mortgaged-financed home sales, however, rose 7.2% from a year earlier to 22,131, making up 17.4% of all sales. Other home sales fell 18.3% to 105,279. In seasonally and calendar-adjusted terms, sales of new homes increased 3.5% and sales of existing homes rose 0.7% from July. During the January-August period, total home sales decreased 6.8% year-on-year to 950,529. Mortgage-financed sales increased 27.6% to 188,813 during the eight-month period, while other sales declined 12.7% to 761,716. Sales to foreign buyers edged up 0.1% year-on-year to 1,938 in August, accounting for 1.5% of total home sales. Russian citizens purchased the most homes with 343 transactions, followed by Ukrainians with 147 and Iranians with 140. In January-August, house sales to foreigners fell 6.3% from a year earlier to 13,141.