Home sales fell 18 percent year on year.

SHAFAQNA TURKEY – The number of houses sold to foreigners in Turkey in February decreased by 27 percent compared to the same month last year and amounted to 3 thousand 350. The number of first-time sold houses in Turkey in February decreased by 18.8 percent compared to the same month last year year and amounted to 23 thousand 476 units.

The Turkish Statistical Institute released statistics on home sales for February. Accordingly, home sales in Turkey in February decreased by 18 percent compared to the same month last year and amounted to 80 thousand 31. The number of houses sold in February decreased by 18.1 percent compared to January.

In Turkey, 3,350 houses were sold to foreigners in February. The number of home sales to foreigners in February fell by 27 percent year on year. In February, the share of home sales to foreigners in total home sales was 4.2 percent.

Antalya ranked first by province with 1,261 foreign home sales in February. Antalya is followed by Istanbul with 1133 home sales and Mersin with 225 home sales.

In February, citizens of the Russian Federation bought 1,183 houses in Turkey. The Russian Federation is followed by Iran with 446 houses, Iraq with 173 houses and Ukraine with 142 houses.

Mortgage sales down in February

Mortgage housing sales in Turkey in February decreased by 12.7% compared to the same month last year and amounted to 17,357. The share of mortgage sales in total housing sales was 21.7 percent. Sales of mortgage housing in January-February, on the contrary, decreased by 11.8 percent compared to the same period of the previous year and amounted to 33,560 units.

5,93 mortgage sales in February and 9,353 mortgage sales in January-February were first-hand sales.

The number of other home sales in February was 62,674, down 19.3 percent from the same month last year. The share of other sales in the total sales of houses is set at 78.3 percent. Sales of other houses in January-February decreased by 2.5 percent compared to the same period last year, to 144 thousand 179.

The number of houses sold for the first time in Turkey in February decreased by 18.8 percent compared to the same month last year and amounted to 23,476 units. The share of the first sale in the total sales of houses was 29.3 percent. In January-February, first-hand sales of houses amounted to 51 thousand 8 units, which is 9.1 percent less than in the same period of the previous year.

Sales of used houses in Turkey in February amounted to 56,555, which is 17.7% less than in the same month last year. The share of sales of secondary housing in the total volume of housing sales is set at 70.7 percent. Used home sales fell to 126,731 between January and February, down 2.4 percent from the same period the previous year.