Real Estate

In Turkey, More than 2 million houses were sold in the 10-month period

The number of real estates sold throughout the country in the first 10 months of 2020 by the General Directorate of Land Registry and Cadastre reached 2 million 241 thousand 850. According to the data of the General Directorate of Land Registry and Cadastre, Department of Strategy Development, 8 million 936 thousand 74 transactions took place in 10 months of this year.

The increase in real estate sales, which started with the decrease in loan interest rates, continued in October. The end-year sales figure of 2019 is equal to the sales figure of the 10-month period. Accordingly, while 1 million 782 thousand 36 real estates (housing, workplace, land, field) were sold throughout the country in the 10 months of last year, this number increased to 2 million 241 thousand 850 in the same period of 2020.

In these sales, a value of ₺414 billion 308 million 468 thousand 608 was presented in the title deed. While a value of ₺3 trillion 841 billion 670 million 996 thousand 357 was submitted in all transactions across the country last year, this figure decreased to ₺1 trillion 861 billion 337 million 559 thousand 774 in the same period of 2020.

Fee income doubled compared to last year

The fee income from the title deeds was recorded as ₺15 billion 10 million 629 thousand 369. The figure reached ₺15 billion 479 million 433 thousand 973 in total, with the income from other transactions such as donations, divisions, mortgages, transfers, and allocations. Last year, the fee income from real estate sales was recorded as ₺7 billion 339 million 635 thousand 716.

source: AA / translated by Melisa Karayusufoglu

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