Real estate sales statistics in Turkiye in August 2023

Istanbul market is recovering after six months of stagnation.

According to the official statistics website TÜİK (Turkish Statistical Institute), 17,408 properties were sold in Istanbul in August 2023, which is only 6% less than in August 2022, when 18,485 properties were sold.

And in Turkiye as a whole, the decrease in sales compared to the same month last year was only 1.1%.

Let me remind you that the events that took place in Turkiye at the beginning of 2022 hit the real estate market very hard.

During this time, we observed a strong drop in demand, in some months the drop reached 50%.

Then the prediction was that the situation would improve by the end of summer 2023 and now we see that the market is actually starting to revive.