Apartment sales in Turkey achieve promising figures

Apartment sales in Turkey achieve promising figures

Residential apartment sales in Turkey hit a record in June

The sector of the residential apartments continues its remarkable activity that was started at the beginning of May 2020, which came after a slight recession caused by the measures taken to prevent the Corona epidemic. This activity was accompanied by a significant reduction in interest rates in home loans leading to a significant increase in the real estate sales in Turkey in June 2020 which reached numbers described as historic.

In the statistics issued by the Turkish Statistical Institute, the sales of apartments in Turkey in June 2020 reached 190 thousand and 12 apartments, achieving an increase of 209.7% over the sales of the same month of last year, 2019.

Istanbul Province ranked first among the Turkish province that sold apartments the most in June 2020 with 28,799 apartments, which is 15.2% percent of apartment sales throughout Turkey, followed by Ankara, then Izmir.

The Turkish provinces that achieved the lowest sales were Bayburt with 68 apartments, Hakkari with 40 apartments, and Ardahan with 29 apartments sold.

In the details, numbers of mortgaged residential sales throughout Turkey in June 2020 reached 10 thousand and 504 apartments, achieving a tremendous 1286.9% increase compared to the sales of June 2019.

Istanbul has achieved first place among the Turkish states that sold mortgaged residential apartments the most with 14,767 mortgaged apartments, which is 14.5% of the sales of mortgaged apartments all over Turkey.

The sales of new apartments in June 2020 have reached 58,632 apartments, which is a 152% increase in June sales compared to the previous year, and 30.9% of the apartment sales in Turkey.

Istanbul province topped the Turkish provinces in the new residential apartment sales, by selling 8 thousand and 253 new apartments, with a 14.1% of real estate sales of the new residential apartments all over Turkey, followed by Ankara with 5 thousand and 96 new apartments, then Izmir with 3 thousand and 530 new apartments.

The sales of used apartments in June 2020 throughout Turkey reached 131,380 used apartments, achieving an increase of 244.9% over the sales of used apartments. Istanbul ranked first among the Turkish states that sold used apartments with 20 thousand 546 used apartments, achieving a 15.6% of apartment sales across Turkey, Ankara came in second place with 16,816 used apartments, followed by Izmir with 8,160 used apartments.

Sales of apartments in Turkey to foreigners are continuing despite the flight ban

According to statistics published by the Turkish Statistical Institute, the foreigners have purchased 1664 apartments in Turkey in June, in which Istanbul ranked first among the Turkish provinces that sold apartments the most to foreigners with 730 apartments sold. Antalya came in second place with 277 apartments sold, followed by Ankara with 180 apartments, then Izmir with 65 apartments, then Mersin with 57 apartments sold to foreigners.

Regarding the foreign nationalities buying residential apartments the most in Turkey in June 2020, the Iranians ranked first with 398 apartments, followed by the Iraqis in second place with 257 apartments, then the Chinese by buying 78 apartments, then The Azerbaijanis with 70 apartments, then the Russians with 63 apartments. 

Sales of residential apartments in Turkey to foreigners in June 2020 were as follows:

Edited by: Imtilak Real Estate^©

Source: Zingat + Hurriyet

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