Turkey has set a new record for property sales in the first two months of the year, including residential properties, land, agricultural land, and commercial properties.
In January- February, the total number of real estate sales in Turkey increased by 13.2% year-on-year, reaching 471,694, marking the highest-ever figure for the period.
Property sales, including residential, land, commercial, and agricultural land, continued to perform strongly in February, following a strong start in January.
Property sales surged by 20.2% in January compared to the same period in 2024, reaching 238,938. In February, sales rose by 7%, totaling 232,756. Together, the first two months saw a 13.2% increase, bringing the total to 471,694 sales. This figure is now recorded as the highest-ever number for January-February.
Previously, the highest number of sales in the January-February period was in 2023, with 419,894 sales, while in the first two months of 2020, 418,414 properties were sold.
Reasons for the Increase:
Industry representatives suggest that the continuing actual decrease in property prices, especially in the residential sector, and shorter payback periods have revived sales. They also noted that the demand, which began to pick up in the second half of the previous year, has continued into the new year.
They mentioned that a significant portion of investors is looking to move their gains from gold, foreign currency, and Time Deposit Accounts (KKM) into real estate. Additionally, citizens, expecting further interest rate cuts, are eager to act quickly to make property investments.
19 Billion TL in Property Transfer Fees:
The record in property sales is also reflected in the revenue from property transfer fees. In the January-February period, 3,208,031 transactions were conducted at the land registry. Of these, approximately 472,000 were sales, 229,000 were mortgages, 73,000 were inheritance transfers, 21,400 were corrections, 11,400 were expropriations, 9,700 were separations, and 4,800 were mergers. Other transactions accounted for nearly 2.4 million.
The revenue from property transfer fees for these transactions increased by 73.3%, reaching 18.98 billion Turkish Liras in the first two months of 2025.
