Home    Residential Sales Contracted By 8 Percent

The Turkish Statistical Institute (TURKSTAT) shared housing sales statistics for the month of June. Household sales in Turkey were 97 thousand 579 in June 2017, decreasing by 8.1 percent compared to the same month of the previous year. Housing sales were on-site in February, with a partial increase of 1.5 percent in May. The figures outside of these months point to positive developments, while in the month of May 116,558 houses were sold.

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In residential sales, Istanbul had the highest share with 18,4 percent sales in 17 thousand 970 houses. According to the sales figures, Istanbul was sold with 10,160 homes, with 10,4% share in Ankara, 6,034 houses in 6,2% and İzmir with 6.2% share. The number of residential sales was low in Hakkari with 2 houses respectively, Ardahan with 20 houses and Bayburt with 31 houses.

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Residential mortgage sales decreased by 3.2 percent compared to the same month of the previous year and reached 35 thousand 210. The share of mortgage sales in total housing sales was 36.1 percent. During the mortgage sales, Istanbul received 6,993 housing units and the first order with 19.8 percent share. Artvin was the largest share of mortgage sales in total housing sales with 56.1 percent.

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Household sales made by foreigners increased by 24.8 percent compared to the same month of the previous year and became 926 thousand. In June 2017, Istanbul received the first order with 903 residential sales in foreign residential sales. With the sale of 408 houses in Istanbul respectively, with the sale of 93 houses in Bursa, 77 houses in Aydın, 68 houses in Ankara and 60 houses in Muğla. In June, citizens of Saudi Arabia bought 612 houses from Turkey. Saudi Arabia was followed by Iraq with 239 houses, Kuwait with 136 houses, the Russian Federation with 115 houses and the United Kingdom with 87 houses.

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