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 by 131 percent (compared to the third quarter of last year). Home sales to foreigners in the third quarter amounted to 11,903 units. They showed a sharp increase compared to the second quarter of 2020 (by 260 percent) and a slight decrease (by 1 percent) compared to the result of the third quarter of last year.
Görkem Ogüt, the founder and CEO of Turkey's online real estate appraisal platform, Endeksacom: “Turkish housing sales, which declined in early 2020 due to the coronavirus pandemic, reached record highs in June and July thanks to attractive mortgage campaign terms. However, in September and October, sales began to decline again due to changes in mortgage terms and due to the fact that consumer demand decreased. Within nine months of 2020, 1,161,278 apartments and houses were sold in Turkey. This figure is 34 percent higher than last year's sales for the same period. So we can already say that 2020 has been a positive period for the Turkish real estate sector. And in the near future we can predict further development and sales growth."