Summary of Turkish Property Sales in the First Half of 2020

Property Sales in Turkey Increased by 124% on the Annual Balance in July 2020

The property sales in Turkey in July 2020 have increased by 124,3 % compared to the previous year. This means 229.357 properties were sold.  According to the data report that has been published in August 2020 by the Turkish statistical office (TurkStat), an amount of 130.721 of the purchases were financed by mortgages, which means an increase of 900.6% compared to the previous year.

Property sales with mortgages were noticed as 57.0% of all property sales in Turkey. Other types of home sales in Turkey were measured with an amount of 98 636, which means a boost of 10.6% from the same month last year. Purchase of new properties has risen to 67.937, which corresponds to an increase of 74.5 % compared to the same month last year. Sales of existing real estate in Turkey have risen by 155.0% to the amount of 161 420 in annual accounts.

Foreigners Bought 2.741 Properties in Turkey from January to July

In the period of time from January to July 2020, 854.126 properties were sold. This means a boost of 40.5% compared to the year 2019. In this period mortgage-backed property sales were noted with an amount of 397.095, which is 313.9% up according to the last year. While other types of sales were noted as 457.031, which is 10.8% down. The number of new properties sold during this period has increased by 8.4% to the amount of 265.709. The number of existing properties sold was 588.417, which means a boost to 62.1%.

The number of real estates sold to foreigners in Turkey has been measured as 2.741 and is equal to a decrease of 34.6% compared to the same time last year. Istanbul took first place with 1 046 property sales in July 2020. Antalya followed as second with 615 sales, Ankara 230, Mersin 101, and Yalova 88 sales. In the period of time from January to July 2020, house sales to foreigners fell by 17.6% to an amount of 17,003, which corresponds to a decrease of 29.6% compared to the same period of 2019. In July, Iranian citizens bought 540 properties in Turkey. The Iranians were followed by Iraqis with 388 purchases, Russians with 154, Afghans with 149, and Germans with 143 real estate purchases.