In January 2025, the housing market in Turkey showed significant growth, with a total sales volume of 112,173 units, up 39.7% compared to January of the previous year. Istanbul, Ankara and Izmir were the leaders in the number of transactions, while Ardahan, Bayburt and Tunceli showed the least activity. In January 2025, the Russian buyer maintained its leading position in the Turkish residential real estate market, demonstrating a steady interest in Turkish real estate.
The growth in mortgaged housing sales was particularly impressive, increasing by 182.8% to 16,726 units, accounting for 14.9% of total sales. At the same time, the bulk of sales came from other methods of acquiring housing (95,447 units), up 28.3% compared to last year.
The primary market also showed a 29.8% increase, reaching 32,785 transactions. The secondary market showed even more significant growth, increasing by 44.2% to 79,388 units sold. At the same time, sales to foreigners decreased by 24.9% to 1,547 units, with Istanbul, Antalya and Mersin leading the way, and the Russian Federation being the main buyers.
This indicates mixed trends in the market: strong domestic demand, but a decline in interest from foreign buyers. In January, the largest number of home sales by nationality were to citizens of the Russian Federation - 248, Iranians - 162 and Iraqis - 103. The next newsletter on this topic will be published on March 13, 2025.
