A 20.1% increase in concluded housing transactions, the Turkish Statistical Institute (TurkStat) reported in February this year compared to the same month last year, reaching 112,818 purchases and sales. The cities with the highest number of home sales are Istanbul with 19,347, Ankara with 10,791 and Izmir with 6,899. At the other end of the scale are Ardahan with 24, Tunceli with 70 and Bayburt with 73.
Home sales increased by 29.1% in the January-February period compared to the same period the previous year, reaching 224,991.
The main reason for the increase in transactions is a decrease in mortgage interest rates. Home purchases with bank loans across Turkey increased by 90.1% in February compared to the same month of the previous year, reaching 16,778. The share of mortgage sales in total home sales was 14.9%.
The number of home sales in the primary market increased by 18.2% in February compared to the same month of the previous year, reaching 33,784. Their share in total home sales was 29.9%.
The number of home sales in the secondary market increased by 21% in February compared to the same month of the previous year, reaching 79,034. The share of sales in total home sales was 70.1%.
Home sales to foreigners decreased by 21.1% in February compared to the same month of the previous year, reaching 1,457. The share The share of home sales to foreigners in total home sales in February was 1.3%. The cities with the highest number of home sales to foreigners were Istanbul with 539, Antalya with 503 and Mersin with 89. Last month, the highest number of home sales by nationality were made to citizens of the Russian Federation - 256, Iranians - 133 and Iraqis - 99.
Detailed statistics on average property prices in Bulgaria by cities and neighborhoods can be seen HERE