October 2023 Housing Sales Set a Record: Record Numbers

Historic Peak in Housing Sales in October

Turkish Statistical Institute (TÜİK) announced the housing sales data for October 2023, revealing that a total of 164,306 housing units were sold across Turkey. This figure marks the highest monthly sales figure of the year and is recorded as the second highest sales achieved in October after 2024. However, a decrease of %0.5 compared to the same month last year was observed.

Distribution of Housing Sales by City

Istanbul led the way with 26,305 housing sales, followed by Ankara with 14,681 and İzmir with 8,678. On the other hand, the lowest housing sales were recorded in Ardahan with 86, Bayburt with 135, and Tunceli with 143.

Significant Increases in the First 10 Months

In the January-October period, housing sales increased by %16.2 compared to the same period of the previous year, reaching a total of 1,293,033 units. This is considered an important development for the sector.

Mortgage Housing Sales in High Rankings

In October, mortgage housing sales were recorded as 23,527, marking a %11.5 increase compared to the same month of the previous year. The share of mortgage sales within total housing sales was %14.3. In the January-October period, mortgage housing sales increased by %64.0 compared to the same period of the previous year, reaching 186,020 units.

First and Second-Hand Housing Sales

In October, first-hand housing sales decreased by %4.9 to 54,866 units compared to the previous year. However, these sales accounted for %33.4 of total housing sales. In second-hand housing sales, 109,440 housing units were sold, marking a %1.8 increase, which represented %66.6 of total sales.

Foreign Investors in the Housing Market

In October, housing sales to foreigners decreased by 2,106 units, showing a %0.8 decline. The provinces where these sales were most prevalent were recorded in order as Antalya (729), Istanbul (725), and Mersin (192).

The housing sales data for October reveals that the dynamics of the sector are changing rapidly and that Turkey is maintaining its competitiveness in the housing market.