April 2023 saw several interesting patterns emerge within the Turkish real estate market, reflecting the ongoing evolution of demand and supply dynamics. As property developers strive to meet the diverse needs and preferences of buyers, it becomes crucial to analyze the sales statistics and identify the driving forces behind the market's performance.

In April 2023, 85,652 houses were sold in Turkey. This is a 35.6% decrease compared to the same month in the previous year. Istanbul had the highest number of sales with 13,944 houses, followed by Ankara with 10,000 houses and Izmir with 4,960 houses. The lowest number of sales were in Ardahan, Hakkari, and Bayburt. 

From January to April 2023, there were 368,867 housing sales, an 18.6% decrease compared to the same period in the previous year. 

In April 2023, 63,883 houses were sold through other sales types, such as inheritance or gift. This is a 36.8% decrease compared to the same month in the previous year. 

There were 26,952 first-hand house sales in April 2023, a 26% decrease compared to the same month in the previous year. In the January to April 2023 period, there were 110,859 first-hand house sales, a 15.3% decrease compared to the same period in the previous year. 

58,700 second-hand houses were sold in April 2023, a 39.3% decrease compared to the same month in the previous year. In the January to April 2023 period, there were 258,800 second-hand house sales, a 19.9% decrease compared to the same period in the previous year. 

2,557 houses were sold to foreigners in April 2023, a 60.3% decrease compared to the same month in the previous year. The citizens of the Russian Federation made the most purchases, followed by citizens of Iran, Ukraine, and Iraq.

Overall, the housing market in Turkey has experienced a significant decrease in sales compared to the previous year. However, there are still sales being made to foreigners.

Edited by: Aldar Real Estate ©

Source: Tuik