Türkiye's home sales drop 2.4% in May

Türkiye's home sales drop 2.4% in May

Some 110,600 residential properties changed hands last month, TurkStat data shows

By Tuba Sahin

Home sales in Türkiye fell 2.4% from a year ago to 110,588 units in May, according to data released on Thursday.

Housing sales to foreign buyers dove 34.8% at an annualized pace to 2,064 units this May.

The Mediterranean resort city of Antalya had the largest share of sales to foreign buyers with 797 units.

Istanbul, Türkiye's largest city in terms of population, followed with 668 properties, while the southern province of Mersin came third with 164.

Among foreign nationals, Russians bought the largest number of houses – 437 units – followed by Iranians with 207, and Ukrainians with 171.

In January-May, residential property sales shed 3.4% year-on-year to 465,761.

In the first five months of the year, housing sales to foreigners plunged 45.8% from last year to 9,021.

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