Housing Sales in Turkey Saw a 63.6% Year-Over-Year Increase in November

In November, 153,014 residential properties were sold across Turkey. According to the announcement made by the Turkish Statistical Institute (TÜİK), residential sales increased by 63.6% compared to the same month of the previous year. The provinces with the highest number of property sales were Istanbul with 26,320, followed by Ankara with 14,916 and Izmir with 8,583. The provinces with the least sales were Bayburt with 89, Tunceli with 99, and Hakkari with 121.

Residential sales increased by 16.4% in the January-November period In the January-November period, residential sales rose by 16.4% compared to the same period of the previous year, reaching 1,265,388.

Residential sales summary for November and January-November:

Category	November 2024	November 2023	Change (%)	January-November 2024	January-November 2023	Change (%)
Total sales by type	153,014	93,514	63.6	1,265,388	1,087,349	16.4
Mortgaged sales	21,804	5,245	315.7	135,209	171,706	-21.3
Other sales	131,210	88,269	48.6	1,130,179	915,643	23.4

Total mortgaged residential sales in November reached 21,804, reflecting a 315.7% increase compared to the same month last year. Mortgaged sales represented 14.2% of total residential sales. In the January-November period, mortgaged sales decreased by 21.3% to 135,209.

In November, there were 5,213 mortgaged property sales, while in the January-November period, there were 32,082 first-hand mortgaged sales.

A total of 131,210 properties changed hands through other sales categories in November, marking a 48.6% increase compared to the same month the previous year. Other sales accounted for 85.8% of total residential sales, with January-November other sales increasing by 23.4% to 1,130,179.

The number of first-hand residential sales reached 49,274 in November, marking a 61.7% increase compared to the same month last year, with first-hand sales comprising 32.2% of total residential sales. In the January-November period, first-hand residential sales increased by 24.2% to 407,832.

The number of second-hand residential sales reached 103,740 in November, marking a 64.6% increase compared to the same month last year, with second-hand sales accounting for 67.8% of total residential sales. In the January-November period, second-hand residential sales rose by 13.0% to 857,556.

A total of 2,151 properties were sold to foreigners in November, which is an 8.2% decrease compared to the same month last year. Foreign sales represented 1.4% of total residential sales in November. The provinces with the highest number of sales to foreigners were Istanbul with 780, Antalya with 752, and Mersin with 191. Foreign property sales in the January-November period decreased by 35.1% to 21,363.

Regarding country of origin, the highest number of residential sales was made to citizens of the Russian Federation, with 421 sales in November, followed by 200 sales to Iranian citizens and 160 sales to Ukrainian citizens.