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Turkey’s Housing Market Surges 35.8% in June, While Real Prices Slip

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Turkey’s housing market experienced a sharp surge in sales in June 2025, rising 35.8% year-over-year to 107,723 units, according to data released by the Turkish Statistical Institute (TÜİK). However, despite the sales boom, real house prices dropped by 1.7% compared to the same period last year.

Istanbul Leads in Sales, Ardahan Lags Behind

Among cities, Istanbul led with 17,656 housing units sold, followed by Ankara with 9,428 and Izmir with 5,987. At the other end, the provinces with the lowest housing activity were Ardahan (38 units), Bayburt (62), and Hakkari (81).

First Half of 2025: Home Sales Up Nearly 27%

In the January–June 2025 period, total home sales across Turkey rose by 26.9% to 691,893 units, compared to 545,074 in the same period last year. Growth was most pronounced in mortgaged sales, which more than doubled.

Breakdown of June Housing Sales:

  • Total Sales: 107,723 (+35.8% YoY)

  • Mortgaged Sales: 14,484 (+112.6% YoY), accounting for 13.4% of total sales

  • Other Sales: 93,239 (+28.6% YoY), making up 86.6% of the total

  • First-Time Sales: 33,569 (+32.0% YoY), 31.2% of total

  • Second-Hand Sales: 74,154 (+37.6% YoY), 68.8% of total

In the first half of the year, mortgaged sales doubled, reaching 103,090 units, while first-time purchases rose 19.8%, and resales jumped 30.3%.

Foreign Buyers Show Selective Demand

Sales to foreign buyers rose 8.7% YoY in June to 1,565 units, representing 1.5% of all transactions. Top provinces were:

  • Antalya: 603 units

  • Istanbul: 521

  • Mersin: 128

Despite the monthly increase, foreign sales fell 10.6% YoY in the January–June period, totaling 9,354 units. Russian citizens remained the leading foreign buyers in June (326 units), followed by Ukrainians (111) and Iranians (109).

Housing Price Index Climbs Nominally, Falls in Real Terms

The House Price Index (HPI), adjusted for quality and published by the Central Bank of Turkey (CBRT), rose 2.0% MoM in June, reaching 186.0 (base year 2023=100). Compared to June 2024, the index increased 32.8% nominally, but declined 1.7% in real terms after adjusting for inflation.

City-specific price trends showed:

  • Istanbul: +2.2% MoM, +32.7% YoY

  • Ankara: +2.3% MoM, +42.1% YoY

  • Izmir: +3.1% MoM, +31.8% YoY

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