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ISTANBUL’S 2017 REAL ESTATE FIGURE

ISTANBUL’S 2017 REAL ESTATE FIGURE According to the Turkey Data Processing Center’s (TÜVİMER) study, based on 39 districts of Istanbul, 26 million 100 thousand square meters of housing with a total value of 101 billion 745 million 210 thousand TL ($ 21 billion) were sold last year in Istanbul.

In 2107, Esenyurt, with a total sale of 3 million 968 thousand square meters, had the largest number of housing sales, followed by Sancaktepe with 1 million 349 thousand square meters, Beylikdüzü with 1 million 261 thousand square meters, Basaksehir with 1 million 246 thousand square meters, and Kadıköy with 1 million 211 thousand square meters. In the 10 districts where the most housing sales were realized, the number of new housing sales was 62 thousand 615, whereas the number of second-hand housing sales was 57 thousand 362. 

Although housing sales values vary in different districts, the average square meter price was around 4 thousand TL ($ 835). Given the value of the housing sold, among the 39 districts, Sarıyer was the first with a total sale that is worth 10 billion 117 million TL ($ 2.2 billion) last year. Sarıyer was followed by Kadıköy with 9.99 billion TL ($ 2 billion), Esenyurt with 7.9 billion TL ($ 1.6 billion) and Beşiktaş with 5.8 billion TL ($ 1.2 billion). 

According to another report released by the Turkey Statistics Institute on housing sales in 2017 in all of Turkey, foreigners bought 1.6% of the total of 94.393 housing sold in Turkey. Last year, Istanbul became the first in terms of the largest number of housing sold, with a total number of 8.182 (36%). Also, among the cities where the highest increase in housing purchases made by foreigners in 2017 compared to the year 2016, Istanbul, again, was the first, with an increase of 40.8%.