PodcastResidential sales down in Turkey
Housing sales have decreased by 1.9 percent in 2019, the Turkish Statistical Institute revealed. While 1,348,729 residences were sold in 2019, one third of these sales were mortgages. Istanbul was the city with the highest number of residences sold with 237,675 sales, followed by Ankara and İzmir. Residential sales to foreigners went up by 14.7 percent, reaching 45,483.
Duvar English
Residential sales were down 1.9 percent in December 2019 as compared to December 2018, the Turkish Statistical Institute revealed.
A total of 1.3 million residences were sold in 2019, a dip of almost two percent from the previous year.
One third of the residential sales were mortgages: 332,502 sales did not include immediate payment.
Istanbul was the city with the highest number of residences sold at 237,675 sales (17.6 percent of total sales), Ankara came in second with 132,486 sales (9.8 percent of total sales) and İzmir followed with 79,221 sales (5.9 percent of total sales).
The northeastern town of Ardahan had the lowest number of sales with 185 residences sold.
Residential sales to foreigners went up by 14.7 percent, reaching 45,483. Foreigners bought residences in Istanbul the most of all cities, with a total of 20,857 sales.
The city with the second-highest number of sales to foreigners was the Mediterranean coastal city of Antalya with 8,951 residences and the third was Ankara with 2,593 residences sold to foreigners.
Citizens of Iraq were the biggest purchasers of residences sold to foreigners with a total of 7,596 residences bought.
Iranian citizens followed with 5,423 residences bought, and followed by Russian citizens, who purchased 2,893 residences in total.