February Housing and Commercial Property Sales Statistics Announced

Residential Sales Performance

Out of the total sales, 37,785 were first-hand (new) homes, while 86,764 were second-hand sales.

• First-hand sales: Increased by 5.9% year-on-year, accounting for 30.3% of the total market.

• Second-hand sales: Rose by 6.0% compared to the same month last year, representing 69.7% of all transactions.

Significant Surge in Mortgaged Sales

One of the most striking trends this February was the 42.3% year-on-year increase in mortgaged (bank-funded) house sales, reaching 25,035 units. In contrast, other types of sales saw a marginal decline of 0.5%, totaling 99,514. Mortgaged sales now constitute 20.1% of the total residential market.

Adjusted Series and Growth

According to calendar-adjusted series, first-hand sales grew by 5.8% and second-hand sales by 5.9% compared to the previous year. On a month-on-month basis (seasonally and calendar-adjusted), first-hand sales saw a slight dip of 0.2%, while second-hand sales increased by 2.9%.

International Sales Trends

Sales to foreign nationals experienced a slight downturn, dropping 2.9% year-on-year to 1,506 units in February. This segment represented 1.2% of total house sales.

For the January-February period, international sales decreased by 12.1% compared to the same period last year, totaling 2,812 units.

• Top Buyers by Nationality: Russian citizens led the market with 191 purchases, followed by Iranians (131), and Iraqis (106).

Commercial Property Market

The commercial real estate sector showed mixed results in February:

• First-hand commercial sales: Decreased by 5.2% year-on-year, totaling 3,981.

• Second-hand commercial sales: Increased slightly by 0.4%, reaching 11,088.

Notably, mortgaged commercial sales skyrocketed by 62.8% year-on-year (692 units), while other commercial transactions fell by 3.0% (14,377 units).