Published On: Wed, Sep 19th, 2018

House sales in Turkey decline by 12.5 percent in August




House sales in Turkey decline by 12.5 percent in August

Real Estate – House Sales in Turkey

 

According to data announced by TURKSTAT, house sales fell by 12.5 percent to 105 thousand in August compared to the same month of the previous year. In the same period, mortgage sales decreased by up to 70 percent.

Istanbul had the highest share with 15 thousand 262 sales and 4.5 percent in total houses sold followed by Ankara with 9 thousand 291 houses and with 8.8 percent and Izmir with 5 thousand 64 house sales and 4.8 percent.

Sharp fall in mortgage sales

The decline in mortgage sales was noticeable. Across Turkey, mortgage sales showed a decrease of 67.1 percent compared to the same month of the previous year it and amounted to 12 thousand 743. The share of mortgage sales in total house sales was 12.1 percent. Last year, the share of mortgage sales in the total house sales figure was 32.2 percent with a figure of 38 thousand 743.

Number of houses sold for the first time was 46 thousand

The number of houses sold for the first time decreased by 12.6 percent compared to the same month last year and became 49 thousand 362. The share of the first time sold houses in total sales was 46.9 percent. Istanbul had the highest share with 6 thousand 981 houses and 14.1 percent, followed by Ankara with 3 thousand 257 houses and İzmir with 2 thousand 131 houses.

House sales to foreigners

On the other hand house sales to foreigners increased by 129.6 percent compared to same period last year and reached 3,866.





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