Real Estate

Turkey’s July record in house sales to foreigners

July was the second month with the most sales in 2021. Looking at the monthly data of recent years, the average housing sales in July remained in the range of 100 thousand to 120 thousand. In this context, this average was also achieved in July 2021.

ISTANBUL BECOME THE LEADER

Housing sales to foreigners, on the other hand, increased by 64% compared to the same month of the previous year and became 4 thousand 495. In this way, house sales to foreigners in July 2021 reached the highest sales rate of all July months to date. The closest ratio to this was the sales of 4,192 units in July 2019. In the housing sales to foreigners, Istanbul took the first place with the sales of 1,951 houses. Antalya was followed by Antalya with 931 houses, Ankara with 312, Mersin with 217 and Bursa with 158 sales. In July, Iraqi citizens bought 712 houses from Turkey. Iraq was followed by Iran with 619 residences, Russia with 365, Afghanistan with 229 and Germany with 198 residences, respectively. Housing sales across Turkey decreased by 53% in July compared to the same month of the previous year, and became 107,785.

MOBILITY WILL WIN

“The real estate sector, which is very sensitive to the interest level, will gain momentum with the interest rates, which act due to low inflation, to fall below 1%,” said Nazmi Durbakyim, President of the Builders’ Association (IDER). In 2020, public banks offered one of the lowest housing loan interest rates in history, with 0.64% applied. Thus, in the June/August period, the highest house sales to date were reached.

Source: Sabah / Translated by Irem Yildiz

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