According to the data released by the General Directorate of Land Registry and Land Survey in Turkey, the volume of completed real estate sales transactions exceeded 277,000 during the month of March 2023, representing an increase of 83% compared to the previous month. The income generated from these transactions amounted to more than $5.2 billion, which is a significant contribution to Turkey's economy.

In terms of the types of real estate sold, apartments were the most popular, with over 100,000 units sold, accounting for 36% of the total sales. Agricultural lands and construction lands followed, with 93,000 and 51,000 units sold, respectively. Commercial real estate ranked fourth with 10,542 units sold, while other types of real estate accounted for 21,254 units sold.

When looking at the distribution of real estate sales across Turkey, Istanbul topped the list with over 32,000 sales, followed by Ankara with over 20,000 sales, and Izmir with over 15,000 sales. These three cities alone accounted for almost a quarter of all real estate sales in Turkey during the month of March 2023.

The increase in real estate sales can be attributed to various factors, including Turkey's growing economy, favorable government policies, and the demand for affordable housing. Investors and homebuyers alike are taking advantage of the opportunities available in the Turkish real estate market.

Overall, the impressive growth in real estate sales during the month of March 2023 indicates a positive trend for Turkey's real estate market, which is likely to continue in the coming months.

Edited by: Aldar Real Estate ©