Housing sales to foreigners in Turkey increased by 15 percent in 2022

The Turkish Statistical Institute announced the house sales statistics for December last year and for 2022.

Accordingly, house sales fell to 1 million 485 thousand 622 in 2022 with a decrease of 0.4 percent compared to the previous year.

In the January-December 2022 period, mortgaged house sales decreased by 4.8 percent to 280 thousand 320, while other sales types increased by 0.7 percent to 1 million 205 thousand 302. In 2022, the share of mortgaged sales was 18.9 percent, and the share of other sales was 81.1 percent.

In this period, the houses sold for the first time decreased by 0.3 percent to 460 thousand 79. Second-hand house sales were recorded as 1 million 25 thousand 543 with a decrease of 0.5 percent. The share of first-hand housing sales in total housing sales was 31 percent, and the share of second-hand housing sales was 69 percent.

In 2022, Istanbul took the first place in house sales with 259 thousand 654 houses and a share of 17.5 percent. Istanbul was followed by Ankara with 126 thousand 166 house sales and 8.5 percent share, and Izmir with 83 thousand 502 house sales and 5.6 percent share. The least sales were realized in Ardahan with 468 houses.

Housing sales across Turkey decreased by 8.2 percent last month compared to December 2021 and became 207 thousand 963. Istanbul had the highest share with 36,744 house sales and 17.7 percent in the month in question.

Istanbul was followed by Ankara with 16 thousand 365 house sales and 7.9 percent share, and Antalya with 11 thousand 168 house sales and 5.4 percent share. The province with the lowest house sales was recorded as Ardahan with 58 houses.

Housing sales to foreigners increased

The number of residences purchased by foreigners increased by 15.2 percent last year compared to the previous year. Last year, the share of house sales to foreigners in total house sales was 4.5 percent. In 2022, Istanbul took the first place with the sales of 24 thousand 953 houses, followed by Antalya with the sales of 21 thousand 860 houses and Mersin with the sales of 4 thousand 316 houses.

Housing sales to foreigners decreased by 18.6 percent in December 2022 compared to the same month of the previous year and became 6,386. In December, the share of house sales to foreigners in total house sales was 3.1 percent. Antalya took the first place in housing sales to foreigners with 2,465 last month. Antalya was followed by Istanbul with 1968 and Mersin with 663.

Russian citizens bought 16,312 residences from Turkey last year, followed by Iran with 8,223 residences and Iraqi citizens with 6,241 residences.

In December 2022, Russian citizens bought 2 thousand 403 houses from Turkey. Russian citizens were followed by Iran with 675 residences and Iraqi citizens with 345 residences, respectively.