Lower Interest Rates Provided Higher Housing Sales

Real Estate Investment Lower Interest Rates Provided Higher Housing Sales

According to TÜİK data that housing sales in Turkey increased by 5.1% compared to the same month of the previous year in the month of August 2019 was 110,538. In housing sales, Istanbul had the highest share with 15,881 housing sales and 14.4% market share. According to the number of sales, Istanbul was followed by Ankara with 10,707 housing sales and 9.7% share, and İzmir with 6,225 housing sales and 5.5% share. Provinces with low number of housing sales were Hakkari with 18 houses, Ardahan with 28 houses and Şırnak with 59 houses respectively.

In August 2019, İstanbul ranked first in the sales of housing to foreigners with 1,549 sales. Istanbul was followed by Antalya with 656 sales, Bursa with 228 sales, Ankara with 213 sales and Yalova with 169 sales. Iraqi citizens in August bought 675 from Turkey. Iraq was followed by Iran with 469 houses, Russian Federation with 212 houses, Kuwait with 159 houses and Germany with 149 houses.

When we look at the general picture of Turkey, the second-hand housing sales showed an increase of 25.3% compared to the same month of the previous year was 69,904. In second hand housing sales, Istanbul ranked first with 9,880 house sales and 14.1% share. The share of second hand sales in total house sales in Istanbul was 62.2%. Ankara took the second place with 7,600 housing sales. Ankara was followed by İzmir with 4,031 housing sales.

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