Trkiye: Trkiye recorded 127,410 home sales in August, marking a 14.7% decrease compared to the same month last year, as indicated by official data released on Thursday.

According to Anadolu Agency, the Turkish Statistical Institute (TurkStat) reported that new home sales saw a 4.5% year-on-year decline, totaling 44,378 and comprising 34.8% of all transactions. Among the provinces, Istanbul led with 20,426 house sales, followed by Ankara with 10,851, and Izmir with 6,532.

Sales of existing homes experienced a significant drop of 19.4%, amounting to 83,032, which accounted for 65.2% of the total sales. However, mortgage-financed home sales showed a 7.2% increase from the previous year, reaching 22,131 and representing 17.4% of all transactions. Other types of home sales fell by 18.3% to 105,279.

Seasonally and calendar-adjusted figures showed a 3.5% increase in new home sales and a 0.7% rise in existing home sales from July. For the period from January to August, total home sales declined by 6.8% year-on-year, totaling 950,529.

Mortgage-financed sales during the first eight months rose by 27.6% to 188,813, while other sales decreased by 12.7% to 761,716. Meanwhile, sales to foreign buyers showed a slight 0.1% year-on-year increase in August, reaching 1,938, which made up 1.5% of the total home sales. Russian citizens were the top foreign buyers with 343 transactions, followed by Ukrainians with 147 and Iranians with 140. However, house sales to foreigners from January to August fell by 6.3% year-on-year to 13,141.