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Turkey’s domestic property market shows resilience during September

Posted on 27 October 2016

House sales in Turkey increased by 17.8 per cent in September compared with the same month last year, according to the latest Turkish Statistical Institute (TurkStat) report.

Sales to foreign buyers fell by 27.8 per cent year-on-year in September, but compared to the previous month the fall was just 15 per cent. The Antalya province, home to Kalkan, Alanya, Side and golf hub Belek, attracted the most number of overseas buyers, namely 359 sales, followed by Istanbul with 323, then Bursa with 82, Aydın with 69, and Trabzon and Yalova with 67 sales.

Iraqi citizens bought the most Turkish properties of all foreign nationals in September, namely 230 houses. Then came Saudi Arabians with 140 sales, Russians with 99, Kuwaitis with 85 and Britons with 84 sales.

Looking at overall house sales, including purchases by foreigners and Turks, Istanbul attracted the highest share (15.6 per cent) with for 17,040 completed sales. Next was Ankara (10.6 per cent) with 11,564 sales, then Izmir (5.6 per cent) with 6,050 sales.

TurkStat added that mortgaged house sales throughout Turkey totalled 4,083 units in September, representing a rise of 46.7 per cent year-on-year and indicating that more buyers are able to purchase a home with a mortgage.

Some 38.6 per cent of all house sales in Turkey were house sales with mortgages, according to the report. Meanwhile, sales of new-build and resale property increased in tandem during September, both rising by circa 17 per cent year-on-year with Istanbul attracting the highest share of sales in both categories.

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