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<\/p>\nTotal housing sales across T\u00fcrkiye fell by 31.2% year-over-year in May, reaching 93,333 units, official data showed on Thursday, marking the sharpest decline since December 2023.<\/p>\n
Sales had reached the year’s peak in April with 126,000 units sold.<\/p>\n
The decline in housing sales was largely influenced by the reduced number of working days due to the Eid holiday period.<\/p>\n
The number of newly built (first-hand) homes sold across T\u00fcrkiye in May fell by 27.9% compared to the same month of the previous year, totaling 30,196 units, the data from the Turkish Statistical Institute (TurkStat) showed.<\/p>\n
Second-hand home sales, meanwhile, decreased by 32.7% year-over-year, totaling 63,137 units.<\/p>\n
Mortgage-backed housing sales decreased by 2.8% in May compared to the same month last year, totaling 19,754 units. Other housing sales (non-mortgage sales) fell by 36.2% year-over-year to 73,579 units.<\/p>\n
The data also showed that a decline in sales to foreign nationals extended in May, as they decreased by 27.0% compared to the same month last year, totaling 1,387 units.<\/p>\n
Sales to foreigners represented 1.5% of all housing sales in May.<\/p>\n
During the January-May period, sales to foreigners declined by 15.1% year-over-year and stood at 7,068 units.<\/p>\n
In May, the highest number of homes sold by nationality were to Russian citizens (268 units), Iranian citizens (125 units), and Ukrainian citizens (88 units).<\/p>\n
Similarly, sales of commercial properties fell by 30.9% to 11,434 units last month.<\/p>\n
Across T\u00fcrkiye, new commercial property sales in May decreased by 24.8% year-over-year to 3,255 units.<\/p>\n
Second-hand commercial property sales declined by 33.1% over the same period, totaling 8,179 units.<\/p>\n
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