Existing home sales plunge in Türkiye
Existing home sales in Türkiye are being negatively affected as prices for second-hand properties in some regions have reached levels comparable to newly built homes.
According to data from the Turkish Statistical Institute (TÜİK), new home sales increased 3.9% year over year to 51,519 units in September 2026, while existing home sales declined 15.3% to 90,871 units. Homeowners' high price expectations have widened the gap between buyers and sellers, deepening the slowdown in the housing market.
Additional costs associated with maintenance, renovations, and earthquake safety in existing homes are encouraging buyers to turn toward new housing developments. According to BETAM data, the average time it took for property listings to close increased to 57.6 days in September, while the housing demand index declined 6.4% month over month. Flexible payment options offered by new housing projects are also making it harder for existing homes to compete. Industry representatives emphasize that asking prices need to reflect actual market conditions to accelerate sales.
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