Real Estate

Record in house sales in Turkey

The housing sector, which started 2021 sluggishly, walked to the top with the reviving demand despite rising costs and prices as of the second half of the year. House sales increased by 113.7% in December 2021 compared to the same period of 2020 and became 226 thousand 503. On a monthly basis, it was the second highest sale in 17 months and history. In addition, the highest December sales figure in history was reached.

TURKEY IS THE LEADER IN EUROPE

In December, mortgaged home sales rose to 45,260, the highest level since August 2020. First-hand sales, on the other hand, broke the record on a monthly basis with 76 thousand 747, an increase of 108%. The second-highest sales level of all time was reached with 1 million 491 thousand units on an annual basis. With this figure, Turkey became the country with the highest number of houses sold in Europe. Sales of houses to foreigners increased by 77% to 7 thousand 841 on a monthly basis, reaching the highest level in history. In the whole of 2021, a record level was reached with 58 thousand 756. Builders’ Association (IDER) President Nazmi Durbakalim said that investors fleeing the fluctuations in foreign exchange turned to real estate. KONUTDER President Altan Elmas noted that after the depreciation of TL in the face of inflation, investors sought housing in search of protecting the value of their assets.

Source: Sabah / Translated by Irem Yildiz

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