According to Turkish Statistical Institute (TÜİK) data, housing sales in Türkiye showed notable developments in 2024. Overall, total sales recorded a marked increase compared with the previous year, while some categories posted declines.
Headline Housing Sales Data for 2024
- Total sales: In 2024 a total of 1,478,025 homes were sold nationwide. This represents a significant 6% increase versus 2023, one of the highest rates recorded in recent years.
- December 2024 performance: In December 2024 home sales rose 4% year on year to 212,637 units.
Breakdown by Sales Type
Housing sales are divided into mortgaged transactions and other types (cash, installment notes, etc.):
- Mortgaged sales: In 2024 there were 158,486 mortgaged home sales, a 8% decline year on year, among the lowest levels since the series began in 2013. Mortgaged sales accounted for 10.7% of total transactions.
- In December 2024 mortgaged sales rebounded, rising 3% year on year to 23,277 units.
- Other sales: Non-mortgaged home sales increased 9% year on year to 1,319,539 units in 2024, comprising 89% of total transactions.
New and Existing Home Sales
- New homes (first hand): 484,461 new homes were sold in 2024, up 6% year on year. New homes accounted for 32.8% of total sales.
- Existing homes: 993,564 existing homes changed hands in 2024, a 4% increase from the previous year.
By City
Top selling provinces and those with the lowest sales:
- Highest sales:
- Istanbul: 239,213 homes
- Ankara: 134,046 homes
- Izmir: 80,398 homes
- Lowest sales:
- Ardahan: 755 homes
- Hakkari: 958 homes
- Bayburt: 998 homes
Home Sales to Foreign Buyers
A downward trend was observed in sales to foreigners:
- Total to foreigners: In 2024 sales to foreign buyers fell 1% year on year to 23,781 units.
- Share: Sales to foreigners accounted for 6% of total transactions.
- Top provinces:
- Istanbul: 8,416 homes
- Antalya: 8,223 homes
- Mersin: 2,112 homes
- By nationality: The top buyer groups were from Russia (4,867), Iran (2,166) and Ukraine (1,631).
Overall Assessment
Throughout 2024 Türkiye’s housing market saw a clear recovery in total sales. Nevertheless declines in mortgaged transactions and in sales to foreigners were notable. Persistently high interest rates appear to have constrained access to mortgage credit, while the rise in other sales types suggests buyers turned to cash or alternative financing methods. The drop in foreign investor interest may signal changing dynamics in this segment.