Real Estate

Mortgaged house sales broke all time high record in Turkey

The number of the mortgaged house sales increased by 449 percent compared to May and reached 101 thousand 504 in June. Low interest rates from banks. campaigns were launched as measure and encouragement against the pandemic slowdown and these let to an all time sale record in June during the normalization period.

The highest number of house sales in the last 8 years

We see that the average number is 43 thousand when we look at the mortgaged house sales of January, February and March. The sale number was decreased to 17 thousand in April when the most Covid-19 cases were seen; yet, it started to increase in June with the precautions.  

The total number of the mortgaged house sales in the first half of 2019 was 82 thousand 855 and this number was 266 thousand 374 in the first half of 2020; 221 percent of increase is seen when we compare them. The first half of 2020 is recorded as the highest mortgaged house sales in the last 8 years.

Aylin Cevizci, A1 Capital Investment Security Appraiser said that sales rate is highly affected by the economy administration and bank’s support regarding housing sales. She stated:

‘’Low interest rates have an important role in the mortgaged house sales. It is possible that huge investments will continue to increase with low interest rates and campaigns; besides low interest rates have recovered and keep the sector alive. ‘’

source: AA / translated by Bazaar Team

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