420 thousand apartments and houses were sold in Turkey in June and July 2020. These figures have been published by Emlak Kulisi, the construction and real estate newspaper in Turkey. The reason for the record sales is the mortgage campaign with the interest rate lowered to the lowest level of 0.64 percent. So in June 2020, 192,012 housing objects were sold in Turkey, and in July - 229,357 objects. In total, 419,369 housing objects were sold in Turkey for two summer months. 232,225 objects were sold in mortgage: 101,504 objects in June and 130,721 objects in July. The average cost of an apartment in Turkey in July was 327,000 lira.
Atalay Demirbash, chairman of the board of directors of the investment and construction company Demand Group: "Considering that over 420,000 residential real estate objects were sold in Turkey in June and July, we can see that about 140 billion liras entered the real sector of the economy. Approximately 47.5 billion of this money are loans issued by the banks, and the rest is citizens' own savings, cash dollars and gold. This money allowed to support not only the construction and real estate sector in Turkey but also more than 200 related sectors of the economy: from iron production to furniture and curtains. Today we can clearly see how the campaign launched by the Turkish government has contributed to the economy."