House sales in Türkiye totaled 545,097 in the January-June period, down 3.7% from the previous year, according to the Turkish Statistical Institute (TurkStat).
In June alone, house sales in Türkiye were 79,313 units, a 5.2% decrease year-on-year. Istanbul led with 13,025 units sold, followed by Ankara with 6,866, and Izmir with 4,361.
Mortgaged house sales dropped by 49.4% in June to 6,813 units, comprising 8.6% of all sales. For the January-June period, mortgaged sales fell by 57.7%.
To combat high inflation, Türkiye’s Central Bank raised interest rates from 8.5% to 50% over the past year, leading to a decline in bank loans.
In June, house sales to foreigners decreased by 45.1% to 1,440 units. Antalya (593), Istanbul (478), and Mersin (116) saw the highest sales to foreigners. Most foreign buyers were from Russia (332), Iran (156), and Ukraine (102).
From January to June, house sales to foreigners dropped by 45.7% to 10,461 units.
