The Turkish Statistical Institute has announced housing sales data for May 2020
Cheapest houses for sale in Turkey
The pandemic also hit housing sales in Turkey
The Turkish Statistical Institute has announced housing sales data for May. The impact of Covid-19 saw a large drop in both domestic and foreign purchases.
Home sales across Turkey decreased by 44.6 percent in May 2020 compared to the same month of the previous year and was 50,936.
Istanbul had the highest share of residential sales, with sales of 7,460 houses and 15 per cent. According to the sales numbers, Istanbul was followed by Ankara with sales of 4,939 houses and 9.7 percent share, followed by Izmir with sales of 3,96 houses and 6.1 percent share.
The provinces where the number of housing sales was low were Ardahan with 4 dwellings, Hakkari with 15 dwellings and Tunceli with 21 dwellings respectively.
Overdraft Sales Increased
In May 2020, mortgage sales in Turkey increased by 23.9 percent compared to the same month of the previous year, to 18,483. The share of mortgage sales in total home sales was 36.3 percent.
The number of homes sold for the first time in the country was 16,860 in May 2020, a decrease of 54.7 percent compared to the same month of the previous year. Within total residential sales, the share of initial sales was 33.1 percent. Second - hand home sales in May 2020 were 34.7 percent lower than the same month of the previous year, showing 34.7 thousand.
January - May Period
January-May period 434 thousand 757 housing sales took place in the previous year compared to the same period showed a decrease of 2.2 percent. January-May period, Mortgage Housing sales increased by 118.2 percent 164,870, other types of sales decreased by 26.8 percent 269,887 was. In this period, the first-time homes sold 23.9 percent decreased 139 thousand 140 was. Second-hand home sales rose by 13 per cent to 2,117.
Sales to Foreigner Buyers have Declined
Home sales to foreigners decreased by 78.1 percent compared to the same month of the previous year and became 860. In May 2020, Istanbul took the first place in sales of 423 houses. Istanbul province was followed by Antalya with sales of 130 houses, Ankara with sales of 72 houses, Izmir with sales of 38 houses and Mersin with sales of 29 houses, respectively.