As we bid farewell to 2023, let's take a closer look at the housing market in Türkiye and explore the key statistics that shaped the year.
In the year 2023, Türkiye witnessed the sale of 1,225,926 houses. While this number may seem substantial, it's noteworthy that house sales experienced a 17.5% decrease compared to the previous year. İstanbul emerged as the leader in this landscape, contributing significantly with 16.2% of total sales, translating to 198,739 houses. Ankara and İzmir followed suit with 114,432 and 65,465 house sales, respectively.
On the flip side, some provinces reported lower numbers, with Ardahan, Hakkari, and Tunceli recording the lowest house sales in the country.
As we bid farewell to 2023, let's take a closer look at the housing market in Türkiye and explore the key statistics that shaped the year.
Overview of 2023
In the year 2023, Türkiye witnessed the sale of 1,225,926 houses. While this number may seem substantial, it's noteworthy that house sales experienced a 17.5% decrease compared to the previous year. İstanbul emerged as the leader in this landscape, contributing significantly with 16.2% of total sales, translating to 198,739 houses. Ankara and İzmir followed suit with 114,432 and 65,465 house sales, respectively.
On the flip side, some provinces reported lower numbers, with Ardahan, Hakkari, and Tunceli recording the lowest house sales in the country.
December 2023: A Closer Look
December 2023 presented its own set of challenges, with house sales plummeting by 33.4% compared to the same month in the previous year. İstanbul maintained its dominance, securing 17.1% of total sales, equivalent to 23,714 houses. Ankara and İzmir secured the second and third positions with 11,458 and 7,166 house sales, respectively. Meanwhile, Hakkari reported the fewest sales with just 65 houses changing hands.
Mortgaged House Sales and Other House Sales
Mortgaged house sales experienced a significant dip of 72.3% in December 2023, totaling 6,042. Throughout 2023, mortgaged house sales decreased by 36.6%, settling at 177,748. Notably, 4.4% of total house sales in December were mortgaged.
Conversely, other house sales saw a 28.8% decrease in December, amounting to 132,535. However, for the entire year, other house sales decreased by 13.0%, totaling 1,048,178 and constituting 95.6% of all sales in December.
First-Time and Second-Hand Sales
First-time house sales witnessed a 34.2% drop in December, resulting in 51,243 transactions. For the entire year, first-time house sales decreased by 17.5%, totaling 379,542. Second-hand house sales, on the other hand, decreased by 32.9% in December, reaching 87,334. Throughout 2023, second-hand house sales declined by 17.5%, totaling 846,384.
House Sales to Foreigners
House sales to foreigners also saw a decline of 48.1% in 2023, with a total of 35,005 transactions. Antalya led the way with 12,702 sales to foreigners, followed closely by İstanbul with 11,229 and Mersin with 3,016. In December alone, 2,064 houses were sold to foreigners, marking a 67.7% decrease compared to the previous year.
Nationalities and Gender Dynamics
Russian citizens emerged as the prominent buyers in Türkiye, securing 10,560 houses in 2023. Iran citizens and Iraq citizens followed suit with 4,272 and 1,917 house sales, respectively. In terms of gender dynamics, women purchased 401,933 houses (32.8%), men purchased 690,438 houses (56.3%), and 19,610 houses (1.6%) were bought jointly by both genders.
In conclusion, 2023 presented challenges for the Türkiye housing market, with notable decreases in various categories. Understanding these statistics provides valuable insights into the dynamics of the real estate landscape, offering a foundation for informed decisions in the coming years.
