122 thousand 768 houses were sold in Turkey in May, Russians bought the most houses among foreigners

Turkish Real Estate Market Surges in May

The Turkish real estate market saw a huge jump this May. Data from the Turkish Statistical Institute (TUIK) shows sales hit 122,768 units. That's a 107.5% increase from last year. Between January and May, people bought 575,889 homes. This shows how much people want property here right now.

Regional Distribution of the Turkish Real Estate Market

Istanbul is still the biggest player in the country. It handled 18% of all sales in May with 22,148 houses sold. Ankara came next with 11,497 sales. Then Izmir took third place with 7,159 transactions. You can see how these big cities drive the whole industry.

Provinces with the Lowest Sales Volume

Not every area saw high numbers, though. Hakkari had the lowest activity with just 21 houses sold. Ardahan saw 43 sales, while Bayburt had 75. These small numbers show how demand varies across different regions.

New vs. Existing Homes: Market Breakdown

You can split the housing market into new and used homes. Both types of property sales grew fast in May.

First-Hand Housing Sales

Sales of brand-new homes rose by 80.5% over the last year. Buyers picked up 32,861 new houses in May alone. This makes up about a quarter of all sales. So far this year, new home sales have reached 163,719 units.

Second-Hand Housing Sales

Most people still choose existing homes. Sales for these properties jumped by 119.5% in May. That's 89,907 units in a single month. In fact, these sales make up over 73% of the market. And the growth doesn't seem to be slowing down.

Foreign Investment Hits Record Highs

Foreign investment in the housing market is breaking records. Sales to international buyers rose by 235.7% in May. That equals 5,962 homes sold to foreigners. Now, international buyers make up nearly 5% of the total market. Turkey's location makes it a great spot for your money.

Russian Buyers Lead the Market

Russian buyers are leading the pack right now. They bought 1,275 houses in May. Iranians came in second with 736 homes. Iraqis took the third spot with 617 units. It's clear that people from nearby countries love the local property market.

Preferred Locations for International Buyers

Where do these buyers go? Istanbul is the number one pick for foreign buyers. They bought 2,451 houses there in May. Antalya was next with 1,885 sales. Mersin is also becoming popular, with 264 sales to foreigners. These cities offer the best returns for the Turkish real estate market.

Related Articles

• Russian property buyers in Turkey
• citizenship for Russian property owners
• housing sales market statistics
• Antalya Ranks Second in Turkey for Property Sales
• Turkey Property Sales January 2025: 40% Surge Signals Booming Real Estate Market
• Top Nationalities Buying in Turkey / First-Time vs. Second-Hand Sales