Homist offers deep analysis of real estate market in Turkey for Q3-2022
The third quarter was very similar to Q2 for foreign investor having Russian buyers on top of the list again.
Turkey’s Economy in Q3 – 2022
GDP reached 4 trillion 258 billion 168 million TRY at current prices in the third quarter of 2022
Final consumption expenditure of resident households increased by 19.9% in the third quarter of 2022
Final consumption expenditure of resident households increased by 19.9%, government final consumption increased by 8.5% and gross fixed capital formation decreased by 1.3% in the third quarter of 2022 compared with the same quarter of the previous year in the chained linked volume index.
Exports of goods and services increased by 12.6%, imports increased by 12.2%
Exports of goods and services increased by 12.6% in the third quarter of 2022 compared with the same quarter of the previous year in the chained linked volume index, imports of goods and services increased by 12.2%.
Inflation rate still very high comparing with previous periods with average of 81% in Q3-2022
TURKEY HOUSING MARKET IN Q3-2022
Building Permits, Quarter 3 – 2022 : July – September, 2022
Floor area of buildings given construction permits decreased by 4.7%
In the quarter III of 2022, compared with the same period of the previous year, number of buildings, number of dwelling units and floor area of buildings decreased by 8.0%, 3.8% and 4.7% respectively, according to the construction permits given by municipalities to the buildings.
Construction permits floor area of buildings and number of dwellings, Quarter III, 2022
Construction permits, 2020-2022
The share of the residential area realized as 51.7% of the total area
Total floor area of buildings for which construction permits have been given realized as 31.8 million m² and 16.4 million m² of it realized as residential building, 9.0 million m² of it realized as non-residential building and 6.4 million m² of it realized as common used area in the quarter III of 2022.
Construction permits residential, nonresidential and common area of buildings share, Quarter III, 2020-2022
Two and more dwelling buildings had the highest floor area share with 63.1%
According to the use of building for which construction permits have been given, two and more dwelling residential buildings had the highest floor area share with 20.1 million m². It was followed by industrial buildings and warehouses with 3.0 million m² in the quarter III of 2022.
Construction permits use of building shares, Quarter III, 2022
Floor area of buildings given occupancy permits decreased by 2.8%
In the quarter III of 2022, compared with the same period of previous year, while number of buildings increased by 3.7%, number of dwelling units and floor area of buildings decreased by 0.8% and 2.8% respectively, according to the occupancy permits given by municipalities to the buildings.
Occupancy permits floor area of buildings and number of dwellings, Quarter III, 2022
Occupancy permits, 2020-2022
The share of the residential area realized as 58.2% of the total area
Total floor area of buildings for which occupancy permits have been given realized as 27.5 million m² and 16.0 million m² of it realized as residential building, 6.0 million m² of it realized as non-residential building and 5.5 million m² of it realized as common used area in the quarter III of 2022.
Occupancy permits residential, nonresidential and common area of buildings share, Quarter III, 2020-2022
Two and more dwelling buildings had the highest floor area share with 73.7%
According to the use of building for which occupancy permits have been given, two and more dwelling residential buildings had the highest floor area share with 20.3 million m². It was followed by one dwelling buildings with 1.6 million m² in the quarter III of 2022.
Occupancy permits use of building shares, Quarter III, 2022
House Sales Statistics, September 2022
113 thousand 402 houses were sold in Türkiye
In Türkiye, house sales decreased by 22.9% in September compared to the same month of the previous year and became 113 thousand 402. İstanbul had the highest share with 16.8% and 19 thousand 89 house sales. The followers of İstanbul were Ankara with 8 thousand 812 house sales and İzmir with 6 thousand 338 house sales with the share of 7.8% and 5.6% respectively. The provinces with the lowest number of sales were Hakkari with 40, Ardahan with 49 and Gümüşhane with 98 house sales.
House sales, September 2022
Houses sales increased by 11.4% in January-September 2022
In January-September period, house sales increased by 11.4% compared to the same period of the previous year and became a million 57 thousand 193.
Number of house sales, September 2022
Mortgaged house sales became 16 thousand 970
In Türkiye, mortgaged house sales decreased by 43.0% in September compared to the same month of the previous year and became 16 thousand 970. Mortgaged house sales had 15.0% share of all house sales. In January-September period, mortgaged house sales increased by 25.7% compared to the same period of the previous year and became 228 thousand 601.
5 thousand 429 of mortgaged house sales in September and 60 thousand 777 of mortgaged house sales in January-September period were first hand sales.
Other house sales became 96 thousand 432
In Türkiye, other house sales decreased by 17.8% in September compared to the same month of the previous year and became 96 thousand 432. Other house sales had 85.0% share of all house sales. In January-September period, other house sales increased by 8.0% compared to the same period of the previous year and became 828 thousand 592.
House sales by type, September 2022
35 thousand 954 houses were sold for the first time
In Türkiye, first time house sales decreased by 18.2% in September compared to the same month of the previous year and became 35 thousand 954. First time sales had 31.7% share of all house sales in Türkiye. In January-September period, first time house sales increased by 8.7% compared to the same period of the previous year and became 312 thousand 118.
Second hand house sales became 77 thousand 448
In Türkiye, second hand house sales decreased by 24.9% in September compared to the same month of the previous year and became 77 thousand 448. Second hand sales had 68.3% share of all house sales in Türkiye. In January-September period, second hand house sales increased by 12.6% compared to the same period of the previous year and became 745 thousand 75.
House sales by state, September 2022
In September, 5 thousand 49 houses were sold to foreigners
House sales to foreigners decreased by 23.8% in September compared to the same month of the previous year and became 5 thousand 49. House sales to foreigners had 4.5% share of all house sales in September. İstanbul ranked first with a thousand 795 sales to foreigners. The followers of İstanbul were Antalya with a thousand 585 house sales and Mersin with 335 house sales to foreigners.
House sales to foreigners, September 2022
In January-September period, house sales to foreigners increased by 32.5% compared to the same period of the previous year and became 49 thousand 644.
House sales to foreigners, September 2022
In January-September period, house sales to foreigners increased by 32.5% compared to the same period of the previous year and became 49 thousand 644.
House sales were mostly made to Russia citizens according to nationalities
In September, Russia citizens bought a thousand 196 houses from Türkiye. The followers of Russia citizens were Iran citizens with 592 house sales and Iraq citizens with 433 house sales.
House sales by nationalities for top 20, September 2022
Resource: tuik.gov.tr
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