Property sales rise by 6.4 percent during May in Turkey

Published 24.06.2016 15:00
Updated 24.06.2016 16:08
emIHA Photo/em
IHA Photo

114,800 houses changed hands in Turkey during May. Of those sales, 1,612 were sold to foreigners, with approximately 30 percent (or 511 units) of them in Istanbul, the country's largest city by population.

Bolstered by strong domestic demand, house sales increased by 6.4 percent in May compared to the same month in the previous year, reaching a total of 114,800. Istanbul had the highest share of the increase, with 18.8 percent of total house sales around the country, followed by Ankara with 9.9 percent and İzmir with 5.8 percent.

In the same month, 1,612 houses were sold to foreigners, a decline of 18.7 percent compared to the same month the previous year. Iraqis maintained their high interest, buying 163 houses, and ranking first in countries buying property, followed by Kuwaitis with 182 houses, Saudi Arabians with 160, Afghans with 125 and Russians with 121. Foreigners mostly preferred to buy property in Istanbul, with 511 houses sold, followed by Antalya with 407, Bursa with 118, Trabzon with 89, Aydın with 88 and Ankara with 54.

Furthermore, 35,423 mortgaged houses were sold, a decline of 11.6 percent compared to the same month last year. Mortgaged house sales had a 30.9 percent share of all house sales in Turkey.

Also, while first house sales, constituting a 48.8 percent share of all house sales, reached 56,043, a remarkable increase of 14.4 percent, secondhand house sales reached 58,757, a decrease of 0.2 percent for the same period.

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