KONUTDER Chairman Ziya Yılmaz assessed the July 2025 Housing Sales Statistics announced today by TÜİK.
Across Türkiye, housing sales in July 2025 increased by 12.4% year on year to 142,858. Nationwide, first-hand (new) home sales in July rose by 7.8% year on year to 43,984. The share of first-hand sales in total housing sales was 30.8%.
The Best First Seven Months of the Last Five Years
Looking at nationwide sales in the first seven months of 2025, the total of 834,751 marks the best figure of the last five years since the loan campaign during the Covid period in 2020. We see that the momentum which began in July last year has maintained its vitality one year on. Our expectation that total sales, which were 1,478,000 in 2024, will exceed 1.5 million by year-end has strengthened with easing inflation and declining interest rates.
First-hand and mortgaged sales have picked up, yet remain below previous levels
In addition to overall housing sales, we have begun to see signs of movement in first-hand and mortgaged home sales. The 43,984 first-hand sales represent the best July figure since 2020, however compared with the pre-2020 period first-hand and mortgaged sales need to return to ideal levels to help balance the housing market.
A comparison with past years shows that between 2016 and 2020 the average share of first-hand sales in the first seven months was 42%, whereas over the last five years this ratio has fallen to around 30%. Similarly, the share of mortgaged sales averaged 31% in the first seven months of 2016–2020, yet over the last five years it has almost halved to around 17%. Therefore while we view the pickup in July as positive, we consider it a hopeful development for the markets if it proves durable.
“Lifting Credit Restrictions” and “Developing Suitable Land” will ease the market
To sustain this positive picture, we believe steps to improve credit conditions and to develop suitable land are important. With the BDDK lifting credit restrictions, we expect mortgaged and first-hand home sales to reach a better point in the first stage. Then, as we have long proposed, studies such as the “Suitable Land Model” that will reduce land costs and increase new housing production will ease the housing market, and there will be improvements in the homeownership rate, which has fallen to 56%.