(MENAFN) In October, housing sales in Turkey jumped 76.1% compared to the same month in 2023, according to data from the country’s statistical office, TurkStat. A total of 165,138 homes were sold, up from 93,761 in October the previous year. This is the highest sales volume recorded since December 2022, signaling a strong rebound in the real estate market.

Mortgage home sales saw a remarkable 278.2% year-over-year increase in October, totaling 21,095 properties. Mortgaged homes accounted for 12.8% of all home sales during the month, highlighting homebuyers’ growing reliance on mortgage financing. The sharp increase reflects changing purchasing behavior as more individuals opt for mortgage options amid rising house prices.

On the other hand, housing sales to foreigners fell by 16.3% in October, to 2,122 properties. The decrease suggests a slowdown in foreign interest in the Turkish real estate market, which had previously seen strong demand from international buyers. The southwestern resort of Antalya led the way in foreign purchases, with 750 properties sold, followed by Istanbul with 724 and Mersin with 148.

Among foreign buyers, Russians make up the largest group, with 373 properties, followed by Iranians with 172 and Ukrainians with 136. During the January-July period, a total of 1.1 million houses were sold , which represents an increase of 11.9 percent compared to the previous year. . However, sales to foreigners during this period fell by 37.2%, totaling 19,212 properties, indicating a change in foreigners’ buying habits.