Türkiye's home sales fall 8.7% in October

By Tuba Sahin

Home sales in Türkiye dropped 8.7% at an annualized pace in October, according to data released on Thursday.

A total of 93,761 residential properties changed hands last month, also down from 102,656 in the prior month, TurkStat said.

Housing sales to foreign buyers plunged 52.9% year-on-year to 2,536 units this October.

The Mediterranean resort city of Antalya had the largest share of sales to foreign buyers with 931 units.

Istanbul, Türkiye's largest city in terms of population, followed with 758 properties, while the southern province of Mersin came third with 294.

Among foreign nationals, Russians bought the largest number of houses – 713 units – followed by Iranians with 235, Germans with 152, and Ukrainians with 138.

In January-October, residential property sales dove 14.3% year-on-year to 993,835.

In the first 10 months of the year, housing sales to foreigners plummeted 44.4% from the prior year to 30,599.