Türkiye House Sales Fall 14.7% in August as Foreign Demand Holds FlatTürkiye House Sales Fall 14.7% in August as Foreign Demand Holds Flat

Türkiye's housing market cooled in August, but the foreign-buyer segment barely moved. According to the Turkish Statistical Institute (TurkStat) data reported by Daily Sabah, house sales declined 14.7% year on year to 127,410 units, while sales to foreign buyers edged up 0.1% to 1,938. For an overseas investor, the message is less about a boom or a slump than about a small, steady market in which price and paperwork matter more than headlines.

The August numbers

The figures below come from the TurkStat release as reported by Daily Sabah and Bazaar Times.

Two details stand out. First, the drop was concentrated in resales: existing-home transactions fell far faster than new-build sales. Second, the foreign share of the market is small. At 1.5% of transactions, overseas buyers are not what moves Türkiye's national housing statistics; domestic demand and credit conditions are.

Who is buying, and where

In August, according to the same reports, Russian citizens bought the most homes with 343 transactions, followed by Ukrainians with 147 and Iranians with 140. Nationwide, Istanbul recorded 20,426 sales, ahead of Ankara with 10,851 and Izmir with 6,532. The sources used here do not give the August provincial split for foreign buyers, so it would be a mistake to assume foreign demand mirrors those domestic rankings.

For a longer view, P.A. Turkey, citing TurkStat, reported that sales to foreigners fell 9.4% in 2025 to 21,534 units, a nine-year low and a third consecutive annual decline. In that data Istanbul took 7,989 sales and Antalya 7,118, followed by Mersin with 1,800. Invest in Türkiye, the government investment agency, puts the 2024 figure at 23,781 homes.

Set against that, January–August 2026 is running about 6% below the same period of 2025. The decline is continuing, but at a slower pace than the fall recorded across 2025.

Mortgages: a domestic story

The Bazaar Times report notes that mortgage-financed sales rose 27.6% to 188,813 over the first eight months, while other sales declined 12.7% to 761,716, and that mortgaged transactions rose 7.2% in August itself. So the market is shifting towards financed purchases even as overall volumes soften.

That shift matters little for most overseas buyers, who typically pay in cash. It does matter indirectly. Falling non-mortgage sales alongside rising credit-backed sales suggests the domestic market is being driven by borrowing conditions, which in turn depend on central bank policy and inflation. No current policy rate is cited here; check the Central Bank of the Republic of Türkiye's latest decision before modelling any financing or opportunity-cost assumptions.

What this means for a foreign buyer

Data of this kind does not tell anyone whether to buy. It does clarify the environment.

• Competition from other foreign buyers is limited. With only 1.5% of transactions going to foreigners, an overseas purchaser is negotiating mainly against domestic demand and the seller's expectations.
• Resale weakness may open room to negotiate, but not uniformly. Existing-home sales fell much more than new-build sales in August. A one-month move is not a trend, and local pricing varies by district.
• Nominal growth and real value are different things. One market commentary, Binaryx, citing the central bank, said house prices rose 26.36% in the year to February 2026 but fell 3.93% after inflation. That has not been checked against the central bank's own release, so treat it as a secondary-source indication and check the current index.
• Currency matters more than the sales count. Investors who think in dollars, euros or dirhams should model the lira path as well as the headline price.

If you are buying with citizenship in mind

Where a purchase is meant to support a citizenship application, the sales statistics are the least important input. The rules, the valuation process and the property's title status decide the outcome, and they have been under scrutiny: see our earlier note on the investigation into fraudulent applications and our due-diligence checklist. For current thresholds, read how much to invest for Turkish citizenship and confirm with the authorities, because the rules change.

Multi Mulk advises on Turkish citizenship by investment and offers a free written eligibility review. The firm also helps clients buy property in Türkiye and carries out due diligence on purchases. Nothing in this article is a recommendation to buy; your circumstances, budget and goals determine what is suitable, and an adviser can help you assess them via our contact page.

What to watch next

TurkStat's September housing release is the next test of whether the August pattern, flat foreign demand and weaker resales, holds. Month-to-month foreign figures are small and noisy: a swing of a few hundred units can change the percentage noticeably. Cumulative year-to-date data, currently showing a 6.3% decline for foreign buyers, is the steadier guide.

Sources

• Daily Sabah — House sales in Türkiye fall 14.7% to 127,410 units in August (TurkStat data)
• Bazaar Times — Türkiye's Home Sales Fall 14.7% to 127,410 in August as Mortgage Purchases Rise
• P.A. Turkey — Foreign Home Sales in Turkey Fall to Nine-Year Low
• Invest in Türkiye — Real Estate
• Binaryx — Turkey Real Estate Market 2026

Cover photo: mostafa_meraji on Pixabay.