Overview

In April 2024, housing sales in Turkey experienced an 11.8% decrease compared to April 2023, with a total of 75,569 units sold. This decline reflects broader economic trends and changing market dynamics. Despite this, certain regions and sales types demonstrate resilience and potential growth opportunities.

Detailed Breakdown

• Top Performing Provinces:
  • Istanbul: Leading with 12,406 units sold.
  • Ankara: Second with 6,272 units.
  • Antalya: Third with 4,427 units.
• Mortgage Sales:
  • Significant decrease of 67.5% year-on-year, totaling 7,071 units. This indicates a tightening in mortgage lending or a shift in buyer preferences towards cash transactions.
• First vs. Second-Hand Sales:
  • First-Hand Sales: Decreased by 10.6% to 24,085 units, indicating potential caution among new home buyers.
  • Second-Hand Sales: Dropped by 12.3% to 51,484 units, suggesting that existing homeowners are either holding onto properties or facing challenges in the resale market.
• Sales to Foreigners:
  • Notably decreased by 50.3%, with 1,272 units sold. This might be due to global economic conditions or changes in international buyer sentiment.

Market Insights and Opportunities

The current market conditions present a mixed landscape for real estate investors and homebuyers. While overall sales have declined, key provinces like Istanbul, Ankara, and Antalya continue to show strong demand. This indicates potential investment opportunities in these areas, particularly for those looking to capitalize on long-term growth.

Why Invest Now?

• Potential for Future Growth: Despite short-term declines, the Turkish real estate market has historically shown resilience and potential for recovery.
• Diverse Investment Opportunities: From metropolitan areas like Istanbul to tourist-friendly regions like Antalya, there are diverse options for different investment strategies.
• Attractive Property Prices: Current market conditions might offer more competitive pricing, providing a good entry point for investors.

Encouraging Real Estate Investments

As a leading real estate platform, we recommend considering the following strategies:

1. Focus on High-Demand Areas: Invest in top-performing provinces with strong sales figures.
2. Leverage Declining Mortgage Sales: Explore opportunities in the mortgage market, potentially benefiting from future interest rate adjustments.
3. Capitalize on Foreign Interest: Despite recent declines, the market for foreign buyers is expected to rebound, offering lucrative investment prospects.

For detailed insights and personalized investment advice, visit our website or contact our team of experts. Investing in Turkish real estate now could be a strategic move for securing long-term gains.