8/18/2020

Property Sales Skyrocket in July

​​The Turkish Statistical Institute (TurkStat) unveiled residential property sales for July 2020. Accordingly, property sales in Turkey jumped 124.3 percent y-o-y in July, reaching 229,357 units. Istanbul enjoyed the lion's share with 17.2 percent of total sales and with 39,432 units.

Mortgage sales increased by 900.6 percent in July 2020 reaching 130,721 units throughout Turkey compared to the figures recorded in the same month of the last year. The share of mortgage sales in total property sales was 57.0 percent.  

New home sales all over Turkey increased by 74.5 percent y-o-y in July 2020, scoring 67,937 units and having 29.6 percent share in the overall sales.  

Commenting on the property sales figures, Minister of Treasury and Finance Berat Albayrak stated that the construction sector, which facilitated 250 subsectors, continued to see momentum with property sales hitting their all-time high in July breaking a historical record. Albayrak thanked the state-owned banks that played a great role in property ownership of Turkish citizens.
TurkStat; house sales; residential property; mortgage; Berat Albayrak