Real estate sales increased 17.8% in September, according to report pressed by the Turkish Statistical Institute.
Purchase-on-Mortgage house sales throughout Turkey reached 4,083 units, up 46.7% year-on-year, pointing out the reason that more investors demanded to own a unit through house loans because of competitive interest rates.
Many banks announced more competitive mortgage offers for property sales after the government and President Erdogan promoted them to involve in Turkey’s economic recovery by supplying competitive mortgage offers in wake of the July 15 coup attempt In last August.
Property sales with mortgage had a 38.6% share in all property sales in Turkey, according to the report.
However, property sales to foreign citizens decreased by 27.8% – 1,276 units sold-compared to the same month of 2015.
Top destinations for foreign investors were Antalya with 359 sales, Istanbul (323), Bursa (82) and Aydin (69).
Real Estate Sales increased 17.8% in September. Residential mortgage sales were 40 534 in September 2017. Across Turkey mortgage sales showing a decrease of 3.7% compared to the same month of the previous year was 40 534. The share of mortgage sales in total housing sales was 28.9%.
During the mortgage sales, Istanbul received the first order with 6,910 residential sales and 17% share. Ardahan had the highest mortgage sales share in total housing sales with 41.4%. As a result of other types of sales, 99 764 houses have changed hands.
Other housing sales in Turkey increased by 49.3% was 99_764 over the same month of the previous year. In other housing sales, Istanbul ranked 166th with 16.6% of sales in the first place.
The share of other sales in total housing sales in Istanbul was 70.6%. Ankara 9 091 took second place with other housing sales. İzmir followed with the sale of 5,033 houses in Ankara. Ardahan was with 17 provinces where the sale of other houses was the least.