October was a relatively strong month for House Sales in Turkiye, with official figures released by TurkStat showing that there were 102,660 purchases in total. Although in comparison this was a reduction of 25% when compared to the previous year, sales overall from January to October 2022 were up by 6.7%.
Istanbul was the top performer for Property Sales attracting just under 17,000 buyers, closely followed by Ankara with 8,146 sales & Antalya with 6,323. New Build properties between January and October were also strong increasing by 4.8% when compared to the same period last year, but Re-Sales actually outweighed New Builds, increasing by 7.6% between 2021 and 2022. The total number of New Builds purchased stood at 32,692 in October, and Re-Sale purchases came to 69,968. Cash also proved to be king, as out of the 102,660 homes sold in October, only 13,268 were via a Mortgage, a 52% reduction when compared to October 2021.
In terms of foreign buyers, they bought 5,377 homes in October 2022, and though this is a slight decrease to the same month in 2021, overall for the first 10 months of this year there’s a strong increase of 26.9% when compared to January-October 2021. Antalya was actually the most popular with foreign buyers, closely followed by Istanbul & Mersin.
Tourism stats were also strong and in the period of July to September 2022, increased by 27.1% on the previous year of the same quarter. This resulted in a net income of around $17bn USD, 14.3% of which came from external visitors. The number of visitors also increased by 54% reaching just over 21 million people. It is interesting to note that 75% of visitors came for travel, cultural, entertainment or sport activities whilst 17.8% were either visiting family and friends, and the remainder came for shopping.
