Mortgage Sales Increased Tenfold in July

Housing sales reached the highest level of recent years in July with the decrease in housing loan interest rates. 39 thousand 432 houses were sold in Istanbul. House sales increased 37 percent monthly and 128 percent annually. The annual increase in sales was recorded as 55 percent in zero houses and 174 percent in second hand houses. The share of mortgaged houses in total housing sales increased to 61 percent. While 58 percent of residential sales took place on the European Side, the highest sales were in Esenyurt. While 38 percent of housing sales to foreigners took place in Istanbul, annual sales decreased by 45 percent. Both the increase in housing prices in Istanbul, Turkey.


Istanbul Metropolitan Municipality Istanbul Statistical Office published the August 2020 Housing Market Istanbul Economy Bulletin, in which housing markets in Istanbul are evaluated. The transactions that took place in July were reflected in the figures as follows:

128 percent annual increase

Housing sales reached the highest level of recent years in July with the decrease in housing loan interest rates. House sales in Istanbul increased by 128 percent annually to 39 thousand 432; In Turkey, it amounted to 124 229 thousand increased by 357 percent. Istanbul's share in total housing sales was 17 percent. The total number of houses sold in Istanbul increased by 37 percent monthly

Second-hand house sales increased 174 percent

In July, 10 429 zero houses and 29 thousand second hand houses were sold. Of the housing sales, 26 percent was zero and 74 percent was second hand house sales. Zero housing sales are 55 percent annually, 26 percent monthly; Second-hand house sales increased 174 percent annually and 41 percent monthly.

T61 percent of total sales are mortgaged

While 2019 thousand 2 mortgaged houses were sold in July 143, this number reached 2020 thousand in July 24. The share of mortgaged houses in total sales increased to 61 percent annually. Turkey has sold 57 percent of the overall mortgage on the subject.

58% of housing sales are on the European Side

58 percent of residential sales took place on the European Side. 4 thousand 61 houses were sold in Esenyurt, 2 thousand 355 in Pendik, 2 thousand 122 in Sancaktepe, one thousand 993 houses in Beylikdüzü and 914 XNUMX houses in Ümraniye.

Housing sales to foreigners decreased by 45 percent

Housing sales to foreigners decreased by 45 percent annually and increased by 43 percent per month. One thousand 38,2 houses were sold in Istanbul, where 46 percent of housing sales to foreigners took place.

Housing prices increased by 18,1 percent

In June, average square meter house prices rose 18 percent in annual nominal. It increased by 2 percent per month and reached 5 thousand 523 TL. Turkey in general was the 3 thousand 402 TL.

Housing Market Newsletter July 2020 preparing, Turkey Statistical Institute (TUIK) and the Central Bank of the Republic of Turkey (CBRT) has benefited from the data.



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