House sales in Türkiye declined 14.7% on a yearly basis to 127,410 units in August, official data showed Thursday.

Both new home sales and second-hand (existing) home sales dropped in the month, according to the data from the Turkish Statistical Institute (TurkStat).

Sales of new homes declined 4.5% year-over-year to 44,378 units, accounting for 34.8% of total transactions.

Sales of existing homes dropped 19.4% over the same period and stood at 83,032 units, representing 65.2% of the total.

Istanbul recorded the highest number of house sales among Türkiye’s provinces with 20,426, followed by the capital Ankara with 10,851 and the western province of Izmir with 6,532.

Mortgaged home sales, however, rose 7.2% from a year earlier to 22,131, making up 17.4% of all sales. Other home sales fell 18.3% to 105,279.

In seasonally and calendar-adjusted terms, sales of new homes increased 3.5% and sales of existing homes rose 0.7% from July.

During the January-August period, total home sales decreased 6.8% year-over-year to 950,529.

Sales to foreign buyers edged up by a marginal 0.1% year-over-year to 1,938 in August, accounting for 1.5% of total home sales.

Russian citizens purchased the most homes with 343 transactions, followed by Ukrainians with 147 and Iranians with 140.

In January-August, house sales to foreigners fell 6.3% from a year earlier to 13,141.