Residential Apartment Sales in Turkey Approach 1.5 Million in 2024

According to data released by the Turkish Statistical Institute, the number of residential apartments sold in Turkey during December reached 212,637, marking a 53.4% increase compared to sales in the same month last year.

Sales figures for the mentioned month recorded the highest number for the twelfth month in the past three years.

The statistical figures recorded 1,478,025 residential apartments sold during the year 2024, achieving a 20.6% increase compared to sales in the previous year.

Istanbul Ranks First Among Provinces in Apartment Sales

In detail, Istanbul ranked first among Turkish provinces in residential apartment sales during 2024, with 239,213 apartments sold. Ankara came second with 134,046 apartments, and Izmir ranked third with 80,398 apartments.

The provinces with the lowest apartment sales in 2024 were Ardahan with 755 apartments sold, followed by Hakkari with 958 apartments, and Bayburt with 999 apartments.

Foreign Sales Increased by 17% in the Last Month of 2024

As for foreign sales, the number of apartments sold to foreigners in the last month of 2024 reached 2,418, marking a 17.2% increase compared to foreign sales in the last month of 2023 and a 12.4% increase compared to the eleventh month of 2024.

Foreign sales accounted for 1.1% of the total residential apartment sales across Turkey in December 2024.

Regarding annual foreign sales, figures recorded 23,781 apartments sold to foreigners in 2024, representing 1.6% of total sales.

Istanbul Tops Turkish Provinces in Foreign Sales

In detail, Istanbul ranked first among Turkish provinces in residential apartment sales to foreigners in December 2024, with 933 apartments sold. Antalya came second with 731 apartments, and Mersin ranked third with 229 apartments sold.

Istanbul also topped annual sales figures, with 8,416 apartments sold to foreigners in 2024, followed by Antalya with 8,223 apartments, and Mersin with 2,112 apartments.

Sales in the top ten provinces for foreigners in the past year and last month were as follows:

Russians Lead Nationalities in Apartment Purchases

Regarding the ranking of foreign nationalities by apartment purchases in Turkey, Russians ranked first as the top buyers in December 2024, with 438 apartments purchased. Iranians came second with 239 apartments, and Ukrainians ranked third with 181 apartments.

The top ten nationalities in apartment purchases were as follows:

Edited by: Imtilak Real Estate©