House sales saw the lowest level in the last 12 month, although they rose by 16.2% to 59,166 in May on an annual basis, acccording to the Turkish Statistical Institute (TurkStat).
“Istanbul had the highest share with 19.2% and 11,356 house sales,” TurkStat said in a statement.
The capital Ankara and the Aegean province of Izmir followed Istanbul with 5,653 and 3,298 house sales, respectively.
Ardahan and Hakkari were the provinces where the houses changed hand the least, with seven and 11 residential property sales respectively, the statement added.
A total of 18,204 houses were sold for the first time, increasing 8% in May versus the same month last year, TurkStat noted, adding that first house sales had a 30.8% share of all purchases in Turkey.
Mortgaged house sales were recorded at 10,560, dipping 42.9% compared to the same month last year, and making up 17.8% of all house sales in Turkey.
During the January-May period, 418,079 houses were sold in the country, down 3.8% compared to the same period in 2020.
Sales to foreigners
Official data showed that residential property sales to foreigners increased 106.5% year-on-year in May, reaching 1,776 units.
Istanbul again led such sales with 818 houses, followed by the Mediterranean resort city of Antalya with 341 and Ankara with 106.
Among foreigners, Iraqis citizens topped the list with 239 houses. They were followed by Iranians with 231 house sales and Russians with 119.
In the first five-month period, house sales to foreigners totaled 15,740, increasing 24.9% on an annual basis.