April 2021 Home Sales Across Turkey Increased By 124.1 Percent
The Turkish Statistical Institute has released its April 2021 home sales data. Home sales across Turkey increased by 124.1 percent in April compared to the same month of the previous year and were 95,863. January-April home sales in the period compared to the same period of the previous year 6.5 percent decrease as 358 thousand 913 realized mortgage home sales 55.8 percent decrease 64 thousand 730, other types of sales 23.9 percent increase 294 thousand 183 was. During this period, housing sold for the first time decreased by 10.4 percent to 109 thousand 582, second-hand housing sales decreased by 4.7 percent to 249 thousand 331.
Turkish iClassified, who evaluated housing sales data, said:
Real estate sales, which suddenly contracted with the covid-19 epidemic that began last year, entered a long-term upward trend due to measures taken by the state and the sector and incentives provided. Home sales in the sector, which were caught off guard last year, provided a sharp monthly output.
THERE WILL BE A CONTRACTION IN MAY
April March 2021 sales contracted compared to March 2021 due to weekend restrictions. We expect this contraction to increase one-fold in the period of May 2021, when we have a full shutdown. But with the campaigns we expect to start in the sector after the shutdown and the incentives we expect to come from the government, we expect the momentum in home sales to be upward again.
FULL SHUTDOWN EFFECT
As the construction and real estate sector, we look forward to Eid al-Fitr. The 20-day total shutdown in our country due to the pandemic negatively affected home sales. While construction work on construction sites of companies in our sector continued uninterrupted, due to restrictions, our friends in sales offices continued to provide services online or by phone. But online housing sales don't get much.
SALES OFFICES CLOSED
Because many people want to turn their life savings into their dream home, while they want to see everything in place. He wants to visit sample apartments and examine the materials. He wants to see the location of the project, the landscape alive. Therefore, the fact that the sales offices were closed or the homeowners could not come to the project affected sales quite negatively.
Despite this, we remain hopeful that the complete closure process will contribute to the slowdown/reduction of the Covid epidemic. We expect sales to rebound, especially with weekend restrictions lifted.
SELLING TO A STRANGER
Our expectation is that the restriction on foreign flights will continue in foreign sales. In particular, home sales to foreigners increased by 416.1% compared to the same month of the previous year at the level of 4 thousand 77, revised our expectations for sales in the coming months.