[88765] Dramatic drop in real estate sales in Turkey during the month of May

Dramatic drop in real estate sales in Turkey during the month of May

The real estate market in Turkey experienced a significant negative trend during this past May. According to data from the Turkish Statistical Institute (TÜİK), as reported by the channel Son Dakika Haberleri, only 93,333 housing units were sold during the month. This figure represents the "lowest number since June 2024," a fact that points to a significant slowdown in the market.

Simultaneously, the channel gdh reports additional broad declines in related sectors: overall housing sales plummeted by 31.2%, while sales of commercial and business spaces recorded a decline of 30.9% compared to previous periods.

Despite the general negative trend, the channel gdh notes an unusual and interesting figure in the market: while real estate sales to foreigners are on a downward trend, there has been a "notable increase in sales of mortgaged commercial spaces." These data highlight the change in investor preferences in the shadow of economic uncertainty in the country.