Real estate sales statistics in Turkiye in May 2023

Good news, 113,276 properties sold in Turkiye.

In Turkiye, real estate sales decreased by 7.7% in May compared to the same month of the previous year and amounted to 113,276.

Most of the properties were sold in Istanbul. 16.3% of the total, which amounted to 18,435 property sales.

Istanbul is followed by Ankara with 11,196 properties with a 9.9% share in total sales.

Antalya 6,158 sales with a share of 5.4%.

Real estate sales are down 16.3% since the beginning of 2023.

In January-May, house sales decreased by 16.3% compared to the same period of the previous year and amounted to 482,143.

This figure evens out the decline in sales since the beginning of the year, which was 18.6% last month.

Therefore, we can judge an increase in demand, although in comparison with the same month last year, we see a fall.

But do not forget that in May 2022 we had an abnormal demand for housing among Russians.

In addition, these statistics are for May, during which the whole country lived in anticipation of the presidential election. Therefore, I consider this fact a positive trend.

New home sales totaled as 34,413.

In Turkiye, primary home sales in May rose by 4.7% compared to the same month last year and amounted to 34,413.

The share of first sales was 30.4% of all home sales. In the period from January to May, primary home sales decreased by 11.3% compared to the same period last year and amounted to 145,272.

Sales of secondary housing amounted to 78,863.

In Turkiye, sales of secondary housing in May decreased by 12.3% compared to the same month of the previous year and amounted to 78,863.

Secondhand sales accounted for 69.6% of all home sales. In January-May, sales of secondary housing decreased by 18.3% compared to the same period last year and amounted to 336,871.

These are direct consequences of the earthquake. Accordingly, people do not want to buy old secondary housing.