According to the Turkish Statistical Institute’s data, there were 85,652 home sales throughout Turkey in April. The number of house sales in the country has decreased by 19% from the previous month, and by 36% from the same month of the previous year. Based on the data from Endeksa, a real estate valuation platform utilizing artificial intelligence and big data analysis, the annual increase in home sales prices was 132% as of April.

When considering the top 30 provinces with the most home sales in April, the provinces with the highest annual value increase were Trabzon, Kocaeli, and Sakarya, in that order. As for home sales to foreigners, Antalya led with 1,024 home sales.

Average House Price in Turkey

The number of house sales in Turkey decreased by 19% compared to the previous month and by 36% compared to the same month of the previous year, making a total of 85,652. According to Endeksa.com, a technology-focused real estate valuation platform, the annual increase in home sales prices in Turkey was 132% as of April. The average price per square meter of housing in Turkey was 18,140 TL, and the average house price was 2,358,200 TL. The return time for house investment was 16 years.

Istanbul had the highest share of house sales in April, with 13,944 houses sold, taking a 16% share. Istanbul was followed by Ankara with 12,023 house sales and a 11% share, and Antalya with 10,000 house sales and a 12% share. The annual value increase in home sales prices was 120% in Istanbul, with an average price per square meter of 28,057 TL, and an average house price of 3,252,906 TL. In Ankara, house prices increased by 138% in the last year, with an average price per square meter of 13,622 TL, and an average house price of 1,770,860 TL. In Izmir, the annual value increase was 127%, with an average price per square meter of 23,306 TL, and an average house price of 2,897,750 TL.

According to Endeksa’s data, among the 30 provinces with the most home sales in April, the provinces with the highest annual value increase were Trabzon, Kocaeli, and Sakarya. In Trabzon, house prices increased by 142% over the last year, with an average price per square meter of 13,147 TL, and an average house price of 2,103,520 TL. In Kocaeli, the increase in house sale prices was 142%, with an average price per square meter of 15,474 TL, and an average house price of 2,011,620 TL. In Sakarya, the increase in house sale prices was also 142%, with an average price per square meter of 14,280 TL, and an average house price of 1,713,600 TL.

The number of first-hand house sales in Turkey decreased by 26% compared to the same month of the previous year, reaching 26,952 in April. The share of first-hand house sales within total house sales was 32%. In the January-April period of 2023, first-hand house sales decreased by 15% compared to the same period of the previous year, reaching 110,859. On the other hand, second-hand house sales decreased by 19% compared to the previous month and by 39% compared to the same month of the previous year, reaching 58,700. The share of second-hand house sales within total house sales was 69%. Second-hand house sales decreased by 20% in the January-April period of 2023 compared to the same period of the previous year, reaching 258,008.

Mortgaged house sales in Turkey decreased by 14% compared to the previous month and by 32% compared to the same month of the previous year, reaching 21,769. The share of mortgaged sales within total house sales was 25%.

House sales to foreigners decreased by 25% compared to the previous month and by 60% compared to the same month of the previous year, reaching 2,557. The share of house sales to foreigners within total house sales was 3%. Antalya led the way in house sales to foreigners, with 1,024 houses sold. Antalya was followed by Istanbul with 792 house sales, and Mersin with 186 house sales.

Source: [Endeksa]