Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2023

Daily Sabah logo

عربي
  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV
  • Business
  • Automotive
  • Economy
  • Energy
  • Finance
  • Tourism
  • Tech
  • Defense
  • Transportation
  • News Analysis

Turkish house sales cool in November, foreigners rev up purchases for 7th straight month

by DAILY SABAH

ISTANBUL Dec 15, 2020 - 12:34 pm GMT+3
An aerial view of Istanbul shows part of the city's European side amid the COVID-19 outbreak, Turkey, Nov. 22, 2020. (IHA Photo)
An aerial view of Istanbul shows part of the city's European side amid the COVID-19 outbreak, Turkey, Nov. 22, 2020. (IHA Photo)
by DAILY SABAH Dec 15, 2020 12:34 pm

Sales of Turkish housing fell 18.7% year-on-year in November, data showed on Tuesday, recording a fall for the third month in a row as borrowing costs rose from a summer low.

Sales were down to 112,483 homes, according to the Turkish Statistical Institute (TurkStat).

The data showed mortgaged sales fell 44.3% and accounted for nearly 22% of all sales.

In the January-November period, home sales increased 21.5% from the same period last year and reached a peak in the summer before a monetary tightening cycle began.

Mortgaged house sales were up 98% year-on-year from January through November to 558,706.

As usual, Turkey’s largest city by population and a key tourist center, Istanbul, held the greatest share of sales with 18.8% and 21,158 homes.

The capital Ankara and the Aegean province of Izmir followed Istanbul with 10,710 and 6,574 house sales, respectively.

The data showed some 36,658 new homes were sold, falling 25% in November versus the same month last year. Sales of new houses had a 32.6% share of all purchases in Turkey.

Istanbul took the largest share of the pie with 16.9%, or 6,177 home sales. Official data showed that Ankara and Izmir racked up province-wide housing sales totals of 2,662 and 1,888, respectively.

On the other hand, foreigners continued to increase their purchases in the country for the seventh consecutive month. The data showed that property sales to international buyers increased by 24.4% year-on-year in November, reaching 4,962 units.

Istanbul again led such sales with 2,443 houses, followed by the Mediterranean resort city of Antalya with 893 and Ankara with 297.

Among foreigners, Iraqi nationals topped the list with 876 houses. They were followed by Iranians with 860 and Russians with 434 house sales.

However, foreigners’ purchases so far this year are still down 9.5% after they declined in March and April when the coronavirus outbreak appeared in Turkey.

Sales entered an upward trend in May.

Some 36,285 houses were sold to foreign buyers from January through November, the data showed.

  • shortlink copied
  • Last Update: Dec 15, 2020 1:50 pm
    RELATED TOPICS
    fight-against-terrorism DEUTSCHE-BANK US-LIBYA-RELATIONS
    KEYWORDS
    house sales turkey covid-19 outbreak credit mortgages
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    Percival Lugue, who has the Guinness world record for the largest fast-food toy collection, poses with his toy collection in his home in Apalit, Pampanga province, Philippines, April 20, 2021. (REUTERS Photo)

    Filipino man collects record 200,000 toys from fast-food chains

    TOY-MANIA
    Parts of the newly completed last section of the Northern Marmara Motorway, Istanbul, Turkey, May 19, 2021. (DHA Photo)

    Turkey raises speed limits on highways starting from July

    SPEED-LIMIT

    Türkiye's 1st domestic heavy-class attack helicopter starts engine

    heavy-class-attack-helicopter

    Istanbul's consulate chronicles: Sudhi Choudhary, Consul General of India

    SUDHI-CHOUDHARY
    No Image
    Small towns in Turkey to experience Ottoman Empire
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021