Property sales soar almost 50 percent in Turkey

ANKARA

AA Photo

The number of property sales increased by 42.7 percent in April to 119,317 from the same period of the previous year, according to data released by the Turkish Statistical Institute (TÜİK) on May 25.

Additionally, mortgaged house sales throughout Turkey reached 46,063, an increase of 96.5 percent compared to the same month of the previous year.

Istanbul had the highest share of house sales at 19.4 percent, with 23,197 houses sold in April, followed by the capital city of Ankara, with around 14,000 houses, and the Aegean province of İzmir, with 7,669 houses, according to the TÜİK data. The least number of houses were sold in the eastern province of Hakkari, with 15 houses, and another eastern province, Ardahan, with 19. 

Dramatic rise in mortgaged sales

Some 46,063 houses were sold in mortgaged loans, a 96.5 percent increase from the same month of the previous year, which constituted 38.6 percent of all sales in the country. 

Some 52,598 brand new houses were sold in April, an increase at 40.1 percent compared to the same month of the previous year, reaching record-high levels. First house sales had a 44.1 percent share of all house sales in Turkey, according to the TÜİK data. Istanbul was ranked first among provinces with the most first house sales with a share of 20.3 percent. 

1,847 houses sold to foreigners

In house sales to foreigners, Istanbul ranked first with 584 sales in April 2015. It was followed by the Mediterranean resort of Antalya with 507 house sales, Bursa and Yalova with 133 house sales, Aydın with 90 house sales, Mersin with 76 house sales and Sakarya with 63 house sales.