Istanbul Property Turkey


New Home Sales market fall, Resale Second-hand Rises - Turkish iClassified Newsletter Bulletin

Turkey Property


Zero home sales fall, second-hand rises

  • 17 percent of total house sales in Istanbul, 176 thousand houses were sold in the first eight months. There was a 16 per cent year-on-year decline in home sales and a 28 per cent increase in second-hand homes.

  • Turkey home Mortgage sales, which had a 47 percent share in total sales, rose 123 percent. Home sales remained below the 2019 average in just seven counties. Home sales to foreigners fell 31 percent.
  • Average house sales in Istanbul, where 17 percent of total house sales occurred at the end of August, increased by 11 percent compared to the previous year's average of 22 thousand. In Turkey, home sales increased by 14 percent in the same period. In the first eight months, a total of 176 thousand homes were sold.


16 PERCENT DROP IN ZERO HOME SALES IN TURKEY

  • 71 percent of buying home rental in Turkey for investment were in second-hand housing. Zero home sales fell 16 per cent year-on-year, while second-hand home sales rose 28 per cent. Sales for August rose 5 percent in zero housing and 83 percent in second-hand housing, compared with the previous year's average.
  • Average monthly mortgage home sales in 2019 were 4,652 units, while in August 2020 they increased by 123 percent to 10,362. The share of mortgaged homes in sales rose to 47 percent.


BELOW AVERAGE IN SEVEN ISTANBUL COUNTIES

  • 61 percent of Turkey land home sales were from the Istanbul European side. The highest sales took place in Esenyurt with 23.79 units of housing. Besiktas, Sariyer, Zeytinburnu, Başakşehir, Beşiktaş, Kadıköy, Esenler and Bakırköy, sales remained below the 2019 average in Şişli, Sarıyer, Esenler and Bakırköy. On the Anatolian side, where 39 percent of sales occurred, the highest sales in eight months were recorded in Pendik with 9,459 houses. In Istanbul, where 46 percent of sales to foreigners occurred, 9,596 houses were sold in the first eight months.

  • The lowest condo and bungalow sales fell 31 percent year-on-year across both homes Antalya - Istanbul Turkey


PRICES ROSE 30 PER CENT ON ZERO HOUSING, 21 PER CENT ON SECOND HAND

  • In July 2020, the house price index increased year-on-year by 30 percent in zero housing and 21 percent in the second. Across Turkey real estate, there was a 28 percent increase in zero housing and a 25 percent increase in second-hand housing. The Housing Market September 2020 bulletin was prepared and the data of the Turkish Statistical Institute (TUIK) and the Central Bank of the Republic of Turkey (CBRT) were used.


August Besiktas economy Sariyer Istanbul Istanbul Metropolitan Municipality Kadıköy Central Bank Sariyer Turkey Bakırköy Başakşehir Beşiktaş economy Esenyurt Istanbul Istanbul Metropolitan Municipality Sariyer Property Turkey.