The Turkish Statistical Institute reported a 63.6% increase in house sales in November 2024 compared to the same month the previous year, with a total of 153,014 houses sold.

İstanbul led the provinces with the highest number of sales at 26,320, followed by Ankara with 14,916 and İzmir with 8,583. The provinces with the lowest sales were Bayburt (89), Tunceli (99), and Hakkari (121).

For the January-November 2024 period, house sales increased by 16.4% compared to the same period the previous year, totaling 1,265,388.

Mortgaged House Sales Surge in November

Mortgaged house sales in Turkey saw a dramatic increase of 315.7% in November 2024 compared to the previous year, reaching 21,804. This category represented 14.2% of all house sales. However, from January to November, mortgaged house sales decreased by 21.3% compared to the same period in 2023, totaling 135,209. Of these, 5,213 were first sales in November, and 32,082 were first sales in the January-November period.

Increase in Other House Sales

Sales of other types of houses also increased by 48.6% in November 2024 compared to the previous year, reaching 131,210. These sales accounted for 85.8% of all house sales. Over the January-November period, other house sales rose by 23.4% to 1,130,179.

First-Time and Second-Hand House Sales

First-time house sales increased by 61.7% in November 2024 compared to the previous year, totaling 49,274, and representing 32.2% of all house sales. For the January-November period, first-time sales increased by 24.2%, reaching 407,832. Second-hand house sales increased by 64.6% in November to 103,740, making up 67.8% of all house sales. From January to November, second-hand sales increased by 13.0% to 857,556.

House Sales to Foreigners Decline

House sales to foreigners decreased by 8.2% in November 2024 compared to the previous year, totaling 2,151 and representing 1.4% of all house sales. The highest sales to foreigners were in İstanbul (780), Antalya (752), and Mersin (191). For the January-November period, sales to foreigners decreased by 35.1%, reaching 21,363.

The majority of house sales to foreigners in November were made to citizens of Russia (421), followed by Iran (200) and Ukraine (160). (ILKHA)