Remarkable increase in sales in the Turkish real estate sector

Sales of the Turkish real estate sector are witnessing a remarkable increase according to the statements of the Turkish Minister of Environment and Urban Planning. Read the details with Imtilak Real Estate

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2020-07-02 Last update 2020-08-12

Remarkable increase in sales in the Turkish real estate sector

The Turkish Minister of Environment and Urban Planning stated that the Turkish real estate sector sales in general, and the residential apartments sector in particular, have witnessed a significant increase since the beginning of June 2020, this came in parallel with the announcement of lowering the interest rates of the real estate loans.

The Minister explained that Turkey's Land Registry and Survey Department has registered 93,704 apartments in bank loans, starting from the 1st and 27th of June 2020, which witnessed a decrease in interest rates in bank loans, while this figure in the same period of last year reached 6,658 apartments.

Istanbul has lion's share of the Turkish real estate sales 

According to data from the Directorate of Land Registry and Real Estate Survey, Istanbul ranked first in residential sales with the low-interest bank loans, by selling 14,465 apartments between the 1st and 27th of June 2020.

The capital Ankara ranked second and Izmir city third. The first five ranks in real estate sales were:

The Number

Province

Sales between 1st and 27th of June

1

Istanbul

14,465 Apartments

2

Ankara

12,172 Apartments

3

Izmir

6,220 Apartments

4

Bursa

3,592 Apartments

5

Antalya

3,077 Apartments

 

The effect of the decline in interest was not only limited to the sales of apartments, but it also included the real estate sales in Turkey in general of lands, houses, offices, etc. Sales of real estate in all of Turkey between the 1st and 27th of June 2020 in all of Turkey reached 284,487 properties, while this sales figure in the same period of last year reached 99,125 properties.

Sales of apartments in the bank loans in the mentioned period have achieved 962 million TL, while the value for public real estate sales reached 1 billion and 966 million TL.

 

Edited by: Imtilak Real Estate©
SourceNTV

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