Türkiye's home sales down 25% in October

By Tuba Sahin

ANKARA (AA) - Home sales in Türkiye fell 25.3% from a year ago in October, according to data released by the country's statistical authority on Wednesday.

A total of 102,660 residential properties changed hands last month, down from 137,401 in October 2021, TurkStat said.

Housing sales to foreign buyers dropped 8.8% year-on-year to 5,377 units this October.

The Mediterranean holiday resort city of Antalya enjoyed the lion's share of sales to foreign buyers with 2,123 units.

Istanbul, Türkiye's largest city in terms of population, followed with 658 properties, while the southern province of Mersin came third with 490.

Among foreign nationals, Russians bought the largest number of houses – 2,023 units – followed by Iranians with 498, Iraqis with 310, and Ukrainians with 216.

In January-October, residential property sales climbed 6.7% from the same period last year to 1.60 million.

Housing sales to foreigners surged 26.9% on an annual basis to 55,021 in the first 10 months of this year.