Half of houses bought with loans in Turkey

ANKARA - Anadolu Agency

Some 42 percent of houses sold this year is bought by home loan.

While approximately 860,000 houses were sold in Turkey in the first nine months of this year, almost half of them were bought by using a home loan. 

The volume of homeowner loan’s jumped to 106.7 billion Turkish Liras ($53.3 billion) in the first nine months of this year with a 30.9 percent hike from the same period a year earlier, according to figures compiled by data from state-run statistic body TÜİK and the banking watchdog BDDK. 

The number of house sales rose from 701,621 in 2011 to 862,154 during the first nine months of this year. 41.8 percent of houses were bought using homeownership loans.

Istanbul tops list

Istanbul has the largest share in both the number of homeownership sales and home loans usage. While 174,835 houses were sold in Istanbul, 34.3 percent of these used loans. 

Home loan volume rose to 36.4 billion liras in the first nine months in Istanbul with a 28 percent rise year-on-year. Ankara ranked second with 13.7 billion liras of home loans, followed by İzmir with 7.9 billion liras of home loans.