Turkey sees over 59,000 Property sales in May

Turkey recorded 59,166 house sales in May, up 16.2% year-on-year, the country’s statistical authority announced Monday.

“Istanbul had the highest share with 19.2% and 11,356 house sales,” TurkStat said in a statement.

The capital Ankara and the Aegean province of Izmir followed Istanbul with 5,653 and 3,298 house sales, respectively.

Ardahan and Hakkari were the provinces where the houses changed hand the least, with seven and 11 residential property sales respectively, the statement added.

A total of 18,204 houses were sold for the first time, increasing 8% in May versus the same month last year, TurkStat noted, adding that first house sales had a 30.8% share of all purchases in Turkey.

Mortgaged house sales were recorded at 10,560, dipping 42.9% compared to the same month last year, and making up 17.8% of all house sales in Turkey.

During the January-May period, 418,079 houses were sold in the country, down 3.8% compared to the same period in 2020.

Source: Anadolu Agency