Turkiye Mortgage Sales Rise Even As July Home Transfers Fall

Turkiye's July housing data showed total sales falling, but mortgage-backed transactions rising, creating a split signal for developers and resale sellers.

Total Sales Fell Sharply

TUIK reported 123,603 home sales in July, down 17 percent from a year earlier. First-hand sales fell 8.6 percent to 42,529, while second-hand sales dropped 20.8 percent to 81,074 and still represented 65.6 percent of total transactions.

Mortgages Moved The Other Way

Mortgage sales rose 23.7 percent year on year to 23,888, lifting their share of total sales to 19.3 percent. That suggests some buyers are returning to credit channels even as overall transaction volume weakens.

Foreign Demand Was Small But Positive

Sales to foreigners reached 2,120 in July, up 1.9 percent from last year, with Russian, Iranian and Ukrainian buyers leading by nationality. The share of total sales remained low at 1.7 percent.

Buyer Checks

Purchasers should compare district transaction data, earthquake compliance, title status, mortgage terms, currency exposure, dues and recent second-hand prices. Developers should not assume higher mortgage sales offset weaker total demand.

Outlook

Turkiye's market will need lower financing friction and more realistic resale pricing to stabilise. Mortgage growth is encouraging, but falling second-hand volume gives buyers stronger negotiation arguments. Istanbul and Antalya sellers may need sharper evidence if foreign demand stays small.

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