Turkey's June housing market reversed May's weakness with a credit-led rebound. TURKSTAT reported 129,979 home sales in June 2026, up 15.8% year on year, while mortgaged sales jumped 72.1% to 25,993 transactions.

Mortgage Demand Changed The Month

Mortgaged purchases accounted for 20% of total home sales in June, up sharply from last year's level. That matters for Istanbul, Ankara and Izmir because buyer activity is increasingly tied to bank pricing and inflation expectations rather than only cash protection.

New Homes Also Recovered

First-hand home sales rose 23.1% year on year to 43,406, while second-hand sales rose 12.5% to 86,573. The first-hand share reached 33.4%, giving developers a better June after the softer May release.

Foreign Sales Remain Small But Visible

Sales to foreigners rose 20.1% year on year to 2,015 homes, equal to 1.6% of total sales. Russian buyers led with 381 purchases, followed by Ukrainian and Iranian buyers at 170 each, keeping foreign demand concentrated but not market-defining.

Outlook

Turkey's second-half market will depend on whether mortgage growth survives rate and inflation volatility. June proved credit can revive demand, but developers should avoid assuming the rebound is independent of financing conditions, especially in Istanbul districts where entry prices remain high. July's province-level tables will show whether the rebound is concentrated or national.

Read more at Turkey Housing Market.