Thanks to campaigns in residential property sector in Turkey, 3-months long downward trend in home sales came to an end with an increase of 2.3 percent in May 2018.
The campaign which was started by Ziraat Bank and participated by a total of 4 banks in May offered potential home buyers a huge advantage of 120 months loans and 0.98 percent interest rate creating a doping effect on house sales. As part of said campaign buyers were also offered advantages such as “5 percent down payment and 20 percent discount” by 41 building companies.
Based on statistics declared by Turkey’s Statistical Institute (TSI), home sales in May increased by 2.7 percent as compared to same month last year hitting a sales figure of 119,655 units.
In residential sales, Istanbul had the highest share with 16.0 percent and 20 thousand 61 houses. According to declared sales figures, Istanbul was followed by Ankara with 11,919 houses and 10 percent share and Izmir with 7,028 units and 5.9 percent share in total.
In Turkey, the first time the number of houses sold increased by 4.8 percent compared to the same month of the previous year was 55 thousand 502. The first sale share in total housing sales was 46.4 percent. During the first sales, Istanbul had the highest share with 9,222 homes sold and 16,6 percent, İzmir followed with 4,338 houses sold in Istanbul and 2,984 houses sold in Ankara.
The number of first-time sold houses in Turkey was 55 thousand corresponding to an increase of 4.8 percent as compared to same month last year. The share of first-time sold houses in total sales was 46.4 percent. Istanbul ranked top of the list for first-time sold houses with 9,222 units followed by Ankara with 4,338 and Izmir with 2,984 units.
House sales made to foreigners increased by 36.1 percent compared to the same month of the previous year reaching 2,415 units. Istanbul ranked top of the list with 854 units in May 2018, followed by Antalya with 595 units and Bursa with 141 units.