Last Minute News... Turkey Home Sales Fall Hard February 2021
Home sales fell 31.6 percent in February compared to the same month last year and were 81 thousand 222. Mortgage home sales decreased by 66.5 percent compared to the same month of the previous year and became 14,669. Rising home loan rates have been instrumental in falling mortgage sales.
Home sales across Turkey decreased by 31.6 percent in February compared to the same month of the previous year and were 81 thousand 222. In house sales, Istanbul had the highest share with 15,929 house sales and 19.6 percent.
According to the sales numbers, Istanbul was followed by Ankara with 7 thousand 757 house sales and 9.6 percent share, Izmir with 4 thousand 659 house sales and 5.7 percent share. The provinces with the least number of housing sales were Bayburt with 27 houses, Ardahan with 31 houses and Tunceli with 34 houses, respectively.
MORTGAGE SALES FALL HARD
Sales of mortgaged houses in February across Turkey decreased by 66.5 percent compared to the same month of the previous year and amounted to 14,669.
The share of mortgage sales in total home sales was 18.1 percent. In mortgage sales, Istanbul ranked first with sales of 3,174 houses and a share of 21.6 percent. Bayburt and Hakkari were the provinces where the sale of mortgaged houses was the least with 1 housing. In Ardahan province, the sale of mortgaged housing did not occur.
Other home sales in Turkey in February decreased by 11.3 percent compared to the same month of the previous year and were 66,553. In other housing sales, Istanbul ranked first with 12,755 housing sales and a 19.2 percent share.
The share of other sales was 80.1 percent in total house sales in Istanbul. Ankara ranked second with 6,55 other housing sales, followed by Izmir with 3,653 housing sales. The province with the fewest other housing sales was Bayburt with 26 housing units.
24,737 HOMES SOLD FOR FIRST TIME
The number of houses sold for the first time in Turkey decreased by 33.7 percent in February compared to the same month of the previous year and was 24,737. In total home sales, the share of the first sale was 30.5 percent.
In initial sales, Istanbul had the highest share with 4 thousand 510 house sales and 18.2 percent, followed by Ankara with 716 thousand house sales and Izmir with 335 thousand house sales.
56,485 HOMES CHANGED HANDS IN SECOND-HAND HOME SALES
Second-hand home sales in Turkey decreased by 30.7 percent in February compared to the same month of the previous year and became 56 thousand 485.
In second-hand housing sales, Istanbul ranked first with 11,419 housing sales and a 20.2 percent share. The share of second-hand sales was 71.7 percent in total home sales in Istanbul. Ankara ranked second with sales of 6,41 houses, followed by Izmir with sales of 3,324 houses in Ankara.
JANUARY-FEBRUARY DOWN 34.7 PERCENT
January-February home sales in the same period of the previous year decreased by 34.7 percent to 151 thousand 809, while mortgage home sales decreased by 70.5 percent to 25 thousand 401, and other types of sales decreased by 13.7 percent to 126 thousand 408.
During this period, housing sold for the first time decreased by 35.9 percent to 47 thousand 5, while second-hand housing sales decreased by 34.1 percent to 104 thousand 804.
2,964 HOMES SOLD TO FOREIGNERS
Home sales to foreigners decreased by 26.0 percent compared to the same month of the previous year and was 2,964. In the sales of Housing to foreigners, Istanbul took the first place in February with the sale of 525 thousand houses.
Istanbul was followed by Antalya with 533 house sales, Ankara with 211 house sales, Mersin with 138 House sales and Samsun with 64 house sales, respectively.
In February, Iranian citizens bought 477 homes from Turkey. Iranian citizens were followed by citizens of Iraq with 432 dwellings, the Russian Federation with 259 dwellings, Afghanistan with 230 dwellings, and Kazakhstan with 119 dwellings, respectively.