Second-Hand Housing Sales in the 3rd Quarter of 2022 Made up 69% of Total Sales!
According to the report, 227 thousand 128 second-hand housing sales were realized in the third quarter, while the number of second-hand housing sales decreased by 18% compared to the same period of the previous year. As of the end of the third quarter, the annual increase in housing prices in Turkey was 202%, while second-hand housing sales accounted for 69% of total sales, and housing sales on credit accounted for 18%. The provinces with the highest annual value increase are Antalya, Mersin, and Istanbul.
According to the ‘Second-hand Housing Market Report’, while the number of house sales in the 3rd quarter of 2022 decreased by 17% compared to the same period of the previous year, the increase in house prices throughout Turkey as of the end of the 3rd quarter was 202% annually. While the average residential square meter sales price in Turkey was eleven thousand 972 TL, the average depreciation period was 19 years, and the average marketing period was 61 days, the provinces with the highest annual value increase as of the end of the third quarter were Antalya, Mersin, and Istanbul.
In the 3rd quarter, the number of house sales decreased by 19% compared to the previous quarter.
In the third quarter of 2022, 330 thousand 795 houses were sold. The number of house sales decreased by 19% compared to the previous quarter and by 17% compared to the same period of the previous year.
Secondhand house sales accounted for 69% of total sales and 18% of customers’ high lifestyle-appropriate loan sales.
In the third quarter, 227 thousand 128 second-hand houses were sold. With this figure, second-hand house sales decreased by 22% compared to the previous quarter and by 18% compared to the same period last year. Second-hand house sales accounted for 69% of total house sales. In the third quarter, loan home sales, on the other hand, constituted 18% of the total housing sales and amounted to fifty-eight thousand 284 units. Credit housing sales decreased by 43% compared to the previous quarter and by 25% compared to the same period of the previous year.
So far, we see a slowdown in both the housing market and the second-hand housing market in the quarter. The reasons for this slowdown are the regulation of the BRSA regarding housing loans, the low stock in the market, and high housing prices. We observe a decline in the market after the high increase in housing prices in the recent period. we can say that the increase in housing prices has slowed down. In the last quarter, which is always highly active for the real estate sector, I expect the market conditions to settle further and the annual number of house sales to close with an increase.”
