Despite the fact that the volume of housing sales in Turkey in October decreased by an average of a quarter compared to the same month last year, for 10 months of 2022, it still increased to the same period of 2021.
Here are the indicators for different categories of transactions:
13,258 units of mortgaged housing were sold: 52.7% less than in October 2021 (28,049);
89,392 non-mortgage transactions took place, this is -18.3% compared to October last year (109,352);
lots in new buildings sold 32,592, or -22.0% compared to last October (41,914);
«secondary» units were sold for the month 69,958, or -26.7% compared to the same month of 2021 (95,487).
On average, the decrease, regardless of the type of transaction, was 25.3% compared to October last year.
The dynamics of 10 months has a different character such as:
mortgage sales from January to October - 241,859 vs. 209,904 a year earlier (+15.2%);
non-mortgage sales - 917,984 vs. 876,635 (+4.7%);
«primary» - 344,810 vs. 329,070 (+4.8%);
«secondary» - 8,155,043 against 757,459 (+7.6%).
So, the average percentage increase in all categories as a whole was 6.7%.
Earlier we reported that the growth of housing prices in Turkey, although slowed down, but probably not for long.