Apartment sales progress in Turkey in May

The index of the apartment sales market in Turkey in May 2022 increased by 107.5% compared to the sales of apartments in the same month of last year.

Apartment sales progress in Turkey in May
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2022-06-17 Last update 2022-06-20

Apartment sales progress in Turkey in May

According to data issued by the Turkish Statistical Agency (TÜİK), apartment sales in Turkey during May of this year amounted to 122,768 apartments, achieving remarkable progress of 107.5% compared to sales of apartments in the same month last year and the highest number of residential apartments sales in May during the past three years.

The housing sector in Turkey recorded 575,889 apartments sold during the first five months of this year, up by 37.7% over the sales of the same period last year.

Turkey apartments

Istanbul has the highest rate

In the details of the data, Istanbul came in first place among the Turkish states that sold apartments during May of this year, with the sale of 22,148 apartments, and 18% of the general sales of apartments throughout Turkey during the mentioned month.

The Turkish capital, Ankara, came in second place with sales of 11,497 apartments, and 9.4% of general sales, followed by Izmir in third place with sales of 7,159 apartments, and 5.8% of general sales of apartments across Turkey during May 2022.

As for the states that sold the least apartments in Turkey during May of this year, Hakkari state topped the list with the sale of 22 apartments, followed by Ardahan with the sale of 43 apartments, and Bayburt with the sale of 75 apartments.

 apartments in Turkey

Increased sales of new apartments

In a related context, sales of new apartments in May of this year amounted to 32,861 apartments, an increase of 80.5% compared to sales of the same month last year 2021, and the percentage of sales of new apartments reached 26.8% of the general sales of apartments in Turkey during May of this year.

The official statistics recorded sales of 163,719 new apartments during the first five months of this year, an increase of 28.1% over the sales of the first five months of last year.

As for used apartments, their sales in May of this year amounted to 89,907 apartments, achieving an increase of 119.5% compared to sales of used apartments during the same month of 2021, and 73.2% of the general sales of apartments in Turkey during May of this year.

With regard to sales of used apartments during the first five months of this year, the statistical figures recorded the sale of 412,170 apartments, 42% ahead of sales of used apartments during the same period last year.

Sales of mortgage apartments

With regard to sales of mortgaged apartments, the number of mortgaged apartments sold in Turkey in May of this year reached 29,335 apartments, an advance of 177.8% compared to sales of mortgaged apartments during the same month of the last year 2021, and the percentage of mortgaged apartments sold was 23.9 % of the total apartments sold in Turkey in May of this year.

Moreover, the sales of mortgaged apartments also achieved an annual growth rate of 72.3% during the first five months of this year, with 129,707 mortgaged apartments sold.

Sales of mortgage apartments

While sales of non-mortgage apartments in May of this year amounted to 93,433 apartments, achieving an increase of 92.2% compared to sales of non-mortgage apartments during the same month last year, and the percentage of non-mortgaged apartments reached 76.1% of the total apartments sold in Turkey in May of this year.

In turn, non-mortgaged apartments achieved 446,182 sales during the first five months of this year, an increase of 30.2% over sales of the same period last year.

Edited by Imtilak Real Estate ©

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Sources
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