High Interest Rate Hit On Home Sales In Turkey: Istanbul Antalya Ankara Izmir Mersin Yalova
HIGH INTEREST RATE HIT ON TURKEY HOME SALES MARCH 2021
Sales of mortgaged houses in March across Turkey decreased by 49.7 percent compared to the same month of the previous year and was 21,815. Rising home loan interest rates have been impacted by declining sales.
Home sales in the best places to buy property in Turkey increased by 2.4 percent in March compared to the same month of the previous year and were 111 thousand 241. In house sales, Istanbul had the highest share with 22.7 housing sales and 19.8 percent.
According to the sales numbers, Istanbul was followed by Ankara with 11 thousand 3 House sales and 9.9 percent share, Izmir with 6,636 house sales and 6.0 percent share. The provinces with the least number of housing sales were Ardahan with 15 houses, Hakkari with 16 houses and Tunceli with 52 houses, respectively.
TURKISH BANK MORTGAGE SALES DOWN 49.7 PER CENT
Mortgaged and repossessed houses for sale in Turkey in March across Turkey decreased by 49.7 percent compared to the same month of the previous year and was 21,815. The share of mortgage sales in total home sales was 19.6 percent. In mortgage sales, Istanbul ranked first with 4,643 housing sales and a share of 21.3 percent. The province with the least sales of mortgaged housing was Hakkari with 1 housing.
Other home sales in March in Turkey increased by 36.9 percent compared to the same month of the previous year and were 89,426. In other housing sales, Istanbul ranked first with 17,364 housing sales and a 19.4 percent share. The share of other sales was 78.9 percent in total house sales in Istanbul. Ankara ranked second with sales of 8 thousand 224 other houses, followed by Ankara with sales of 5 thousand 158 houses in Izmir. Ardahan was the province with the least other housing sales, with 13 housing units.
33 THOUSAND 365 TURKISH HOMES SOLD FOR THE FIRST TIME
The number of houses sold for the first time in Turkey decreased by 2.1 percent in March compared to the same month of the previous year and was 33 thousand 365. In total home sales, the share of the first sale was 30.0 percent. In initial sales, Istanbul had the highest share with 6,317 housing sales and 18.9 percent, while Istanbul was followed by Ankara with 2,98 housing sales and Izmir with 836 housing sales.
Second-hand home sales in Turkey increased by 4.4 percent in March compared to the same month of the previous year, which was 77,876. In second-hand housing sales, Istanbul ranked first with 15,690 housing sales and a 20.1 percent share. The share of second-hand sales was 71.3 percent in total home sales in Istanbul. Ankara ranked second with 8,905 house sales, followed by Izmir with 4,800 house sales.
JANUARY-MARCH REAL ESTATE SALES DOWN 22.9 PER CENT
January-March home sales in the same period of the previous year decreased by 22.9 percent to 263 thousand 50, while mortgage home sales decreased by 63.5 percent to 47 thousand 216, other types of sales increased by 1.9 percent to 215 thousand 843. During this period, housing sold for the first time decreased by 25.2 percent to 80 thousand 370, while second-hand housing sales decreased by 21.8 percent to 182 thousand 680.
4,248 HOUSING SALES IN TURKEY TO FOREIGNERS
Turkey home sales to foreigners increased by 39.9 percent compared to the same month of the previous year and became 4 thousand 248. In the sales of Housing in Turkey to foreigners, Istanbul properties took the first place in March with the sale of 2,119 houses. Istanbul was followed by Antalya property with 889 house sales, Ankara property with 252 House sales, Mersin property with 184 house sales and Yalova property with 129 house sales, respectively.
In March, Iranian citizens bought 663 homes from Turkey. Iranian citizens, respectively, were followed by Iraq with 644 housing units, the Russian Federation with 419 housing units, Afghanistan with 302 housing units and Kazakhstan with 166 housing units.