The high demand for housing caused by the historic mortgage campaign continues to gradually subside.
House and apartment sales decreased by 16.3 percent in Turkey in October 2020 compared to October of the last year and amounted to 119 thousand 574 objects.
CONTENT
- Leading cities in October sales
- Mortgage sales of October
- Direct sales of October (not mortgages)
- New apartment sales in Turkey in October
- Secondary housing sales in October
- Residential property sales in Turkey from January to October
- Sales to foreigners
LEADING CITIES IN OCTOBER SALES
The largest number of sales was recorded in Istanbul: 22 thousand 270 objects or 18.6 percent of the total volume. 10 thousand 624 objects were sold (8.9 percent) in Ankara and 6 thousand 846 objects (5.7 percent) in Izmir. Antalya was not included in the top three October sales leaders, although foreign buyers of Turkish real estate choose Antalya after Istanbul.
The lowest number of sales was in Ardahan (16 locations), Hakkâri (24 locations) and Bayburt (71 locations) in October 2020.
MORTGAGE SALES OF OCTOBER
The volume of mortgage sales significantly decreased (by 49.3 percent compared to October 2019) in October 2020 and amounted to 25 thousand 566 objects (21.4 percent of total sales). If you take the mortgage statistics of recent months, you can see how the mortgage campaign in Turkey unfolded and then went down. The peak of apartment sales on a mortgage was in July. Here is some information for comparison: the volume of mortgage sales amounted to 35 thousand 576 objects in September 2020, 76 thousand 19 objects in August 2020, 130 thousand 721 objects in July 2020, 58 thousand 632 objects in June 2020.
Istanbul was in the first place in mortgage sales (5 thousand 494 objects or 21.5 percent) In October 2020. The lowest number of mortgage transactions was recorded in Ardahan and Hakkâri (only 4 transactions each) in October.
DIRECT SALES OF OCTOBER (NOT MORTGAGES)
Against the background of a decline in real estate sales on a mortgage in Turkey, there was an increase in direct sales. Their volume increased in October by 1.7 percent (to 94 thousand objects) compared to the result of October 2019. Istanbul (16 thousand 776 objects or 17.8 percent) was in the first place, while the share of direct sales was 75.3 percent in the total volume of sales in Istanbul in October. The capital of Turkey was in the second place in the number of direct transactions: 7 thousand 942 objects were sold in Ankara. Ardahan had the lowest number of direct property sales in October (12 properties).
NEW APARTMENT SALES IN TURKEY IN OCTOBER
36 thousand 976 new apartments were sold in Turkey during October 2020. This result was 26.3 percent lower than last year (for the same month). The share of new apartment sales was 30.9% of the total volume. The largest number of new apartments were sold in Istanbul (6 thousand 401 objects, or 17.3 percent), in Ankara (2 409 thousand objects) and in Izmir (1 thousand 797 objects).
SECOND HOME SALES IN OCTOBER
The number of secondary housing sales decreased by 10.8 percent compared to the result of October of the last year and amounted to 82 thousand 598 objects. Istanbul was in the first place in sales (15 thousand 869 objects or 19.2 percent). The share of secondary housing sales had an impressive 71.3 percent in the total volume of sales in Istanbul in October. 8 thousand 215 objects were sold in Ankara, 5 thousand 49 objects in Izmir.
RESIDENTIAL PROPERTY SALES IN TURKEY FROM JANUARY TO OCTOBER
1 million 280 thousand 852 objects were sold from January to October 2020. It was 27 percent more than in the same period last year. At the same time, mortgage sales of this period increased by 124.2 percent (to 534 thousand 256 objects), and direct sales decreased slightly (by 3%, to 746,596 thousand objects). The share of new housing sales increased by 2.3 percent (to 396 thousand 184 objects) in this period. The share of secondary sales also increased by 42.5 percent to 884 thousand 668 objects.
SALES TO FOREIGNERS
Compared to October 2019, real estate sales to foreigners increased by 23.1 percent in Turkey and amounted to 5 thousand 258 objects. Most of the houses and apartments foreigners bought in Istanbul (2 thousand 458 objects), in Antalya (928 objects), in Ankara (347 objects), in Yalova (187 objects) and in Bursa (186 objects). In the period from January to October, real estate sales to foreigners decreased by 13.2 percent compared to the result of the last year and amounted to 31 thousand 423 objects. Most often, Turkish real estate was bought in October 2020:
- citizens of Iraq (909 apartments and houses);
- citizens of Iran (849 apartments and houses);
- citizens of the Russian Federation (400 apartments and houses);
- citizens of Afghanistan (225 apartments and houses);
- citizens of Kazakhstan (213 apartments and houses).