General sales of residential apartments in Turkey record the highest monthly figure this year.

According to official data issued by the Turkish Statistical Institute (TÜİK), residential apartment sales in Turkey during May of this year reached 113,276 apartments, marking an increase of 32.25% compared to apartment sales across Turkey in the previous month.

Sales for the same month also achieved the highest monthly figure for apartment sales this year, 2023, with statistical figures recording 482,215 apartment sales across Turkey during the first five months of this year.

Istanbul leads the provinces with the highest apartment sales

According to the statistical data mentioned, Istanbul ranked first among Turkish provinces in apartment sales during May of this year, with 18,435 apartments sold, accounting for 16.3% of total apartment sales across Turkey for the mentioned month.

Following Istanbul, the Turkish capital Ankara ranked second with 11,196 apartments sold, making up 9.9% of total sales, followed by Antalya in third place with 6,158 apartments sold, representing 5.4% of total apartment sales across Turkey during the fifth month of 2023.

The provinces with the lowest apartment sales in Turkey during the fifth month of this year were Ardahan, with 18 apartments sold, followed by Hakkari with 38 apartments sold, and Bayburt with 55 apartments sold.

Sales of new apartments reached 34,413 units

In a related context, sales of new residential apartments during May of this year reached 34,413 apartments, an increase of 4.7% compared to new apartment sales in the same month last year.

Sales of new apartments accounted for 30.4% of total residential apartment sales in Turkey during the fifth month of this year, while sales of used residential apartments during May of this year reached 78,413 apartments, representing 69.6% of total residential apartment sales.

Sales of mortgaged apartments in Turkey

Regarding mortgaged apartment sales, the number of mortgaged residential apartments sold in Turkey during May of this year reached 27,476 apartments, accounting for 24.3% of the total apartments sold in Turkey during the fifth month of this year.

Meanwhile, sales of non-mortgaged apartments reached 85,800 apartments, representing 75.7% of the total apartments sold in Turkey during the fifth month of this year.

Edited by: Imtilak Real Estate

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