“Second Hand Housing Market Report” was released in the 2nd quarter of 2021 with the cooperation of TÜGEM and the Endeksa

In Q2, the number of residential sales increased by 2% compared to the same period last year

In the 2nd quarter of 2021, there were 289,760 housing sales. The number of residential sales increased by 10% compared to the previous quarter and 2% compared to the same period last year.

Sales of housing on a quarter-by-quarter basis

Second-hand housing sales accounted for 70% of total sales, credit housing sales accounted for 20%

In the 2nd quarter, 202,252 second-hand housing sales occurred. With this figure, second-hand housing sales increased by 11% compared to the previous quarter and 5% compared to the same period last year. Second-hand housing sales accounted for 70% of total housing sales.

In the 2nd quarter, overcredit housing sales accounted for 20% of total housing sales, amounting to 56,952 units. Credit housing sales increased by 21% compared to the previous quarter and fell 58% compared to the same period last year.

Residential sales to foreigners increased by 220% compared to the same period last year

In the 2nd quarter, a total of 10,601 housing sales to foreign nationals took place. With this amount, housing sales to foreigners increased 7% compared to the previous quarter and 220% compared to the same period last year.

Number of sales of housing by month

The largest number of stocks in Istanbul

In Istanbul, where 56.449 units accounted for 19% of the residential sales in the 2nd quarter, housing prices increased 24% in the last 1 year and the average sales price per square meter was 4.755 TL.

In Ankara, 28,180 units accounted for 10% of residential sales in the 2nd quarter and housing prices increased by 25% in the last 1 year, the average sales price per square meter was $2,483. There were 16,325 sales in Izmir, where 6% of residential sales occurred, and housing prices increased 33% in the last 1 year, the average sales price per square meter was 4.306 TL.

The largest number of stocks in the provinces with the highest number of residential sales is in Istanbul. As of the end of the 2nd quarter, Istanbul has 274,228 housing stock, 141,589 units in Ankara and 83,260 units in Izmir In stock.

Hakan Akdogan, Founding President of TÜGEM, said, “We are in a period where the second-hand share in residential sales is at the highest levels. The decrease in housing sales on credit resulted in second-hand housing changing hands more for cash. In sales to foreigners, new records will continue to come. We believe that the increase in value in both rent and sale in housing will continue.”

Görkem Ögüt, Founder and General Manager of Endeksa, evaluated the report, said, “The changing living conditions with the pandemic process have increased the demand for new housing. As a result of the mortgage loan campaign in June last year, housing sales have increased and at the point we are observing stock shortages in the sector. With the increase in production costs of new housing and slowing production, demand has shifted to second-hand housing. Compared with the same period last year, total housing sales increased by 2%, while second hand housing sales increased 5%. Second-hand housing sales accounted for 70% of total sales. With stock shortages, rising costs and increasing demand impact, housing value throwback continues. Currently, the annual value increase in residential sales prices is at 30%. Even if the rate falls, we anticipate the increase will continue.”

DOWNLOAD REPORT