House sales continue to decline in Turkey
House sales in Turkey continued to decline in September as fewer foreigners bought residential property despite a temporary buying spree from Russians who fled from their country due to mobilization against Ukraine.
The number of houses sold across Turkey amounted to 113 thousand 402 in September, a 22.9% decline compared to the same month of the previous year, Turkish Statistical Institute said.
Istanbul had the highest share with 16.8%. In Ankara 8 thousand 812 houses were sold and in Izmir 6 thousand 338 houses were sold, TUIK said.
According to TUIK, house sales to foreigners declined by 23.8% in September compared to the same month of the previous year as 5 thousand 49 houses were sold.
Russians still topped the list of foreign nationals with 1,196 houses purchased last month, who settled in Turkey in the wake of Moscow's invasion of Ukraine and the fallout of Western sanctions.
Industry officials say they expect to end the year with more than 1.5 million house sales.