House sales in Türkiye surged by 20.6% in 2024 compared to the previous year, reaching 1,478,025 units, according to official data.

The provinces with the highest number of sales were İstanbul (239,213), Ankara (134,046), and İzmir (80,398). In contrast, Ardahan (755), Hakkari (958), and Bayburt (999) recorded the fewest sales.

In December alone, house sales saw a sharp increase of 53.4% compared to the same month in 2023, totaling 212,637 units.

Sales of mortgaged houses rose by an impressive 285.3% in December, reaching 23,277. However, for the entire year, mortgaged house sales decreased by 10.8% to 158,486 units, comprising 10.7% of total house sales in 2024. Of these, 38,062 were first-time sales.

Sales of houses not involving mortgages grew by 42.9% in December to 189,360 units. For the year, these sales increased by 25.9% to 1,319,539 units.

First-time house sales grew by 49.5% in December to 76,629 units and by 27.6% for the year, reaching 484,461 units. These sales accounted for 32.8% of the total in 2024.

Second-hand house sales rose 55.7% in December to 136,008 units and grew by 17.4% for the year to 993,564 units.

House sales to foreigners dropped by 32.1% in 2024, totaling 23,781 units, representing 1.6% of all sales. The majority of these sales occurred in İstanbul (8,416), Antalya (8,223), and Mersin (2,112).

In December, however, sales to foreigners increased by 17.2% year-on-year, with 2,418 houses sold, accounting for 1.1% of total sales that month.

Russian citizens purchased the highest number of properties in 2024 (4,867), followed by Iranians (2,166) and Ukrainians (1,631). In December, Russians also led the list with 438 purchases, followed by Iranians (239) and Ukrainians (181).

Türkiye's housing market showed significant resilience and growth in 2024, driven by strong demand across the country, including record-breaking performances in key provinces. Despite a notable drop in sales to foreigners, the sector's overall expansion reflects a robust domestic market and strategic developments in urban centers. (ILKHA)