Turkey: Active real estate market records millions of sales transactions

Turkey has witnessed active movement in the Turkish real estate market since the beginning of 2022. According to statements from the Turkish Ministry of Environment and Urban Development, the country recorded approximately 2,705,175 real estate sales transactions during the period from January 2022 to October of the same year.

Based on information from the same source, the month of October 2022 alone recorded more than 270,000 real estate sales transactions in Turkey.

Residential apartments and Istanbul ranked first

Residential apartments topped the list of the most sold types of real estate during the announced period, with 1,138,848 sales transactions. As for the Turkish provinces with the highest number of real estate sales during the same period, Istanbul ranked first with 329,057 real estate sales transactions.

The Turkish capital, Ankara, ranked second among the provinces with the most real estate sales during the first 10 months of 2022, with 169,965 properties sold, while Izmir ranked third with 137,213 real estate sales transactions.

It is worth mentioning that the Turkish real estate market is one of the few real estate markets worldwide that showed resilience during the post-global coronavirus pandemic period, achieving gains and avoiding collapse, unlike many countries where the real estate market experienced crises and collapses that led to the aggravation of several economic issues.

Edited by: Imtilak Real Estate

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