Surge in Izmir's Real Estate: Spotlight on Foreign House Sales

-Overall Growth: In May 2021, house sales in Izmir stood at 3,298, but by May 2022, this number had skyrocketed by 117.1% to 7,159.

-First-time House Sales: Sales of new houses in İzmir in May 2022 saw a growth of 116.0% YoY, reaching a total of 1,853. This category accounted for 25.9% of the total house sales in the city for the month.

-Second-hand Houses: The market for second-hand houses also flourished, with sales increasing by 117.5% YoY, tallying at 5,306 houses. They formed a substantial 74.1% of the total house sales.

-Mortgaged Houses: Reflecting a YoY growth of 155.3%, mortgaged house sales in İzmir in May 2022 achieved 1,884, constituting 26.3% of the total sales. 

Foreigner's Favorite - Izmir's Attraction to Overseas Buyers:
The sales to foreign buyers in İzmir for May 2022 stood at 109, marking a whopping 194.6% growth YoY. This category comprised 1.5% of the city's total house sales for the month.

While İzmir is gaining traction, Istanbul remains the top choice for foreign house buyers, with 2,451 sales. It was closely followed by Antalya at 1,885 and Mersin with 264 sales.

Top Districts for House Sales:
Buca emerged as the hotspot in İzmir's housing market in May 2022, boasting 926 sales. Following close behind were districts like Karsiyaka (673 sales), Torbali (621 sales), Menemen (532 sales), Bornova (506 sales), Konak (496 sales), and Karabaglar (447 sales). Rounding off the list were Cigli with 406 sales, Bayrakli with 292, and Seferihisar with 218.

This data underscores Izmir's growing prominence in Turkey's real estate landscape, with particular appeal to foreign investors. As the city continues its upward trajectory, potential buyers and investors should keep a close watch on this burgeoning market.