Mortgage
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According to TurkStat, sales of houses and apartments in Turkey in September increased by 19.9 percent compared to August and decreased by 6.9 percent compared to September 2019 sales. The annual growth in property prices in Turkey recorded at the beginning of October 2020 amounted to 25.8 percent. The average cost of an apartment in Turkey was...
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Residential property sales in Turkey have hit a record high in 2020. The sales rush was fueled by the special mortgage campaign that kicked off in late May. The most popular options among property buyers in Turkey are apartments worth from 400,000 to 800,000 TL (€41,000-82,000), and the most popular floor plans are 2+1 and 3+1. According to...
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For the first nine months of 2020, mortgage loans were issued in Turkey for 80 billion TL (about 8 billion euros). 52.5 percent of the total volume of real estate in Turkey purchased on a mortgage fell on four cities: Istanbul, Ankara, Izmir and Bursa. As reported by the Anadolu news agency with reference to the Turkish Banking Regulation and...
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In the third quarter of 2020, 536,509 apartments and houses were sold in Turkey. Secondary property sales accounted to 375,073 units while new properties reached the level of 242,316 units. Compared to last year's stats for the same period, residential property sales in Turkey have increased by 49 percent. As for mortgage home sales, they increased...
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Foreigners again began to actively buy houses and apartments in Turkey. Market experts attribute the fall growth in demand to the fact that many foreigners, for example the Middle East, are eager to move to Turkey, at least for the new outbreak of coronavirus. What happened in the Turkish housing market this week? The top property news in English...
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Over the past six months of the mortgage boom and the related rise in property sales in Turkey, housing prices in some provinces have increased by record 39-50 percent. However, in some cities and provinces, very little or no rise in price. For example, the rise in housing prices was only 10 percent in Rize, Kyshehir, Yalova, Karaman, Ordu. In some...
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Founder and CEO of Turkey's online real estate appraisal platform Endeksacom Görkem Ogüt analyzed the world ranking of real estate price growth rates. According to the world real estate market index, published by the British company Knight Frank, the TOP-150 cities where housing is becoming more expensive were headed by three Turkish cities. Izmir...
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Despite record low interest rates on mortgages provided by banks for the purchase of new apartments in Turkey, from January to August 2020, new home sales grew by only 11.2 percent compared to the same period last year. Sales of secondary housing, for which mortgage rates have been higher in 2020, increased by 63.3 percent. In August 2020, sales of...
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From January to August 2020, 1,024,534 housing objects were sold in Turkey: 42.6 percent more than in the same period last year. This year, resale property sales for the first time in many years exceeded sales of new apartments in Turkey. From January to August, 706,702 secondary housing objects were sold. This is 63.3 percent of the total sales of...
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A list of current prices for renting apartments in Istanbul by district has been published. Emlak Kulisi, the real estate publication in Turkey, has reported that rental prices in new buildings in Istanbul are increasing almost daily today. A large number of apartments bought during the mortgage boom are rented out at a higher price as the rent...
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