Following the Central Bank’s interest rate cut, the withdrawal of the housing loan below 1 percent increased the housing sales. In the mortgaged sales, Istanbul took the first place with 4 thousand 382 housing sales and 12.8 percent share.
After the Central Bank’s interest rate cut, the fact that the mortgage loan, which had previously been circulating in the 2.40s, was reduced to less than 1 percent had good results. Satisfactory figures in housing sales came after 8 months.
According to the newspaper, the interest rate cut in August, housing sales increased by 5.1 percent compared to the same month of the previous year was 110 thousand 538. Compared to the previous month, housing sales rose by 8.1 percent. Mortgage (credit) sales had a major impact on the increase. With the effect of falling interest rates, mortgage sales increased by 168 percent compared to the same month of the previous year and became 34 thousand 148. The share of mortgaged sales in total housing sales was 30.9 percent.
In the mortgaged sales, Istanbul took the first place with 4 thousand 382 housing sales and 12.8 percent share. Bilecik has the highest share of mortgaged sales in total housing sales with 43.8 percent.
ISTANBUL IS A LEADER
According to the Turkey Statistical Institute data, ‘other sales’ and ‘foreign sales’ fell while in Turkey. Other sales decreased by 17.3 percent to 76 thousand 390. Housing sales to foreigners decreased by 6.8 percent compared to the same month of the previous year was 3 thousand 604. In the housing sales to foreigners, İstanbul took the first place with 1,549 housing sales. Istanbul was followed by Antalya with 656 sales, Bursa with 228 sales, Ankara with 213 sales and Yalova with 169 sales.
As in August, Iraqi citizens bought the most residences. Iraqi citizens have bought 675 residences from the Turkey. Iraq was followed by Iran with 469, Russia with 212, Kuwait with 159 and Germany with 149. The number of houses sold for the first time in August decreased by 17.7 percent compared to the same month last year and fell to 40 thousand 634. Second-hand housing sales in Turkey in general, an increase of 25.3 percent compared to the same month last year, 69 thousand 904.
Chief editor of Invest Guide Turkey. Graduated from the Business Administration programme on 2014 and works as a journalist in the field of Foreign Investments in Turkey for 5 years.