Increase in residential apartment sales in Turkey during last November

According to statistical data released by the Turkish Statistical Institute (TÜİK), sales of residential apartments in Turkey during November of this year reached 117,806 units, marking an increase of 14.75% compared to apartment sales in the previous month.

The residential apartment sector in Turkey recorded sales of 1,277,659 units during the first ten months of this year, an increase of 1% compared to sales during the same period last year.

Istanbul Leads the Provinces in Apartment Sales

Details of the official statistical data showed that Istanbul ranked first among Turkish provinces in apartment sales during November of this year, with 19,687 apartments sold, accounting for 16.7% of total apartment sales across Turkey during that month.

Ankara, the Turkish capital, came in second place with 9,367 apartments sold, representing 8% of total sales, followed by Antalya in third place with 7,902 apartments sold, accounting for 6.7% of total apartment sales across Turkey during November 2022.

The provinces with the lowest apartment sales in Turkey during the tenth month of this year were led by Hakkari with 34 apartments sold, followed by Ardahan with 47 apartments, and then Bayburt with 58 apartments sold.

New Apartments Accounted for 31% of Total Sales

In a related context, sales of new apartments during November of this year reached 37,380 units, with new apartment sales accounting for 31.7% of total apartment sales in Turkey during the eleventh month of the current year.

Figures from the Turkish Statistical Institute recorded the sale of 382,190 new apartments over 11 months of this year, a slight decrease of 0.7% compared to sales during the first ten months of last year.

As for used apartments, their sales during November of this year reached 80,426 units, representing 68.3% of total apartment sales in Turkey during the tenth month of the current year.

Sales of used apartments over 11 months of this year reached 895,469 units, an increase of 1.7% compared to sales of used apartments during the same period last year.

Sales of Mortgaged Apartments

Regarding sales of mortgaged apartments in the country, the number of mortgaged apartments sold in Turkey during November of this year reached 16,655 units, with mortgaged apartments accounting for 14.1% of the total apartments sold in Turkey during the eleventh month of the current year.

Sales of mortgaged apartments also achieved an annual increase of 3.7% during the first ten months of this year, with 258,524 mortgaged apartments sold.

Sales of non-mortgaged apartments during the tenth month of this year reached 101,151 units, representing 85.9% of the total apartments sold in Turkey during the tenth month of the current year.

Meanwhile, non-mortgaged apartments achieved sales of 1,019,135 units during the first ten months of this year, an increase of 0.3% compared to sales during the same period last year.

Edited by: Imtilak Real Estate

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