In October 2024, Türkiye home sales witnessed an extraordinary increase, with the number of homes sold rising by 76.1% compared to the same month last year. According to the Turkish Statistical Institute (TÜİK), this dramatic surge is reshaping Türkiye’s real estate landscape and presenting new opportunities for both local and foreign investors.
Key Statistics from Türkiye Home Sales October 2024
The latest TÜİK data reveals that 165,138 homes were sold across Türkiye in October 2024, marking the highest monthly sales volume in nearly two years. This highlights the resilience of the housing market amidst various economic challenges and reinforces Türkiye’s position as a top investment destination.
- Mortgaged Sales: Mortgage-financed home purchases saw an impressive rise of 278.2%, totaling 21,095 transactions in October. This increase suggests a robust demand driven by favorable financing conditions and buyer confidence in Türkiye's property market.
- First-Hand vs. Second-Hand Sales: First-hand properties experienced a 97.3% increase in sales, reaching 57,679 units. Sales of second-hand homes also grew by 66.5%, underlining the sustained demand across both new and existing property categories.
Türkiye’s Top Regions for Home Sales
The October 2024 Türkiye home sales data identified Istanbul, Ankara, and Izmir as the leading cities in total transactions. However, Antalya emerged as a prominent area of interest, particularly for foreign investors. Antalya recorded 750 sales to foreign buyers, surpassing other popular cities like Istanbul (724) and Mersin (148) for international interest.
Foreign Buyers and Türkiye Home Sales October 2024
Foreign property purchases in Türkiye totaled 2,122 in October 2024, a slight decline of 16.3% compared to last year. However, demand from countries such as Russia, Iran, and Ukraine remains strong. Antalya, known for its Mediterranean charm, quality of life, and affordable luxury, continues to attract international buyers seeking investment and lifestyle opportunities.
Here’s the expanded chart showing the nationalities of foreign buyers in Türkiye for October 2024, now including additional countries. This breakdown highlights:
- Russia remains the top foreign buyer nationality, followed by Iran and Ukraine.
- Germany, Iraq, Azerbaijan, Kazakhstan, Kuwait, Saudi Arabia, and the United Kingdom also contribute significantly to foreign property purchases.
Here’s the comprehensive chart with a full breakdown of foreign buyer nationalities across major Turkish cities for October 2024. Each city displays transactions from a diverse range of countries, showing:
- Antalya and Istanbul as top destinations, attracting a significant number of Russian, Iranian, and Ukrainian buyers, among others.
- Mersin, Alanya, and Bursa show varied interest from buyers from the Middle East, Central Asia, and Europe.
Why Antalya is a Prime Investment Location
Antalya’s blend of affordability, strong rental market, and exceptional lifestyle makes it one of the best cities for real estate investment in Türkiye. Here are some reasons why:
- Affordable Yet High-Value Properties: Compared to Istanbul, property prices in Antalya are more accessible, making it a strategic choice for both new and seasoned investors.
- Stable Rental Market: The high tourism demand and active expat community provide robust rental returns for those investing in Antalya’s real estate.
- Mediterranean Lifestyle: With scenic coastlines, pleasant weather, and modern amenities, Antalya offers a lifestyle that appeals to both local and international buyers.
What Türkiye Home Sales October 2024 Means for Future Investors
The impressive rise in Türkiye home sales October 2024 data demonstrates the market’s resilience and growth potential. The strong performance in mortgaged and first-hand property sales shows that Türkiye remains a prime real estate market, attracting both local and foreign buyers looking for profitable investment opportunities.
At Northpick, we offer expertise to help clients make informed investments in Türkiye. Whether you are looking for a holiday home, a permanent residence, or a high-yield property, our team at Northpick can guide you to the best choices. Contact us today to explore the vibrant Turkish property market and secure your ideal investment with our professional support.
