Turkey's real estate challenges the global index by selling 1.5 million properties in 2022

Mr. Mustafa Hakan, general manager of one of the most important real estate companies in Turkey, said:

"The total number of real estate sales at the end of June reached 1,537,238 properties. Thus, at the end of this month, we have reached the sales figures we achieved at the same time last year.

As for the volume of income, it amounted to 18 billion and 613 million and 254 thousand and 267 Turkish liras at the end of the first six months of this year.

Regarding the sales of apartments in Turkey, (Gökhan Tash), head of one of the most important international companies specializing in real estate, stated that "the real estate sales of apartments in Turkey achieved a record growth of 31%, as 726,000 properties were sold during the first half of the year by selling 208,000 new homes, while sales of non-new homes reached 517,000.

While sales witnessed a significant decline in most countries of the world. Where 34.3 million properties were sold in the United States, while the number reached 303,006 properties in Canada, a decrease of 19%.

In Britain, real estate sales decreased by 23%, during the first half of this year, to 630,170 properties. In the Netherlands, the percentage of real estate sales decreased by 23.5%, as only 91,305 properties were sold, during the mentioned period.

Istanbul is at the forefront

Istanbul was at the forefront of the cities in terms of the number of sales, while Ankara ranked second, with the number of sales reaching 108,731 properties, and this number reached 88,071 in Izmir, 65,918 in Antalya, 60,163 in Bursa, and 43 1,672 in Kocaeli.

Mortgage loan volume

According to data issued by the Turkish Banking Regulation and Supervision Agency, the volume of real estate loans has reached 347 billion and 573 million Turkish liras as of July 1. The volume of real estate loans within the framework of consumer loans amounted to 912 billion and 705 million Turkish liras or approximately 38%.

The construction cost index continues to rise

Mr . Hakan stated that "there are problems as a result of rising costs in construction models, noting that the building construction cost index announced by the Turkish Statistics Authority has increased by 102.32% compared to the same month last year. The building materials price index has also increased by 126 55%, and the employment index by 43.98% compared to the same month last year.

Edited by Imtilak Real Estate ©

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