Despite the corona virus epidemic, which has deeply affected the whole world, hindered development and growth in many sectors both morally and materially, and caused many preventive measures to be taken, housing sales in the Turkish market has not come to a halt. According to the statistics by the Turkish Statistical Institute (TUIK), housing sales in the country was above the 100 thousand threshold in March. In addition, this figure represented a growth of 3.4 percent when compared to the same month in the previous year. Total number of houses sold in the Turkish market in March 2020 was reported to be 108,670.

 

Istanbul Was on the First Rank in Housing Sales

When the sales figures are reviewed on the province basis, Istanbul is seen to be on the first rank with total sales of 19,846 units, corresponding to a share of 18.3%. Istanbul is followed by Ankara, where 12,409 houses, representing a share of 11.4%. Izmir is on the third rank with 7.131 units of sales and a percentage of 6.6% in the national market. On the other hand, Hakkari (7 sales), Ardahan (10 sales) and Bayburt (37 sales) are on the last ranks in terms of sales volumes.

 

Foreign Investors Bought 3,036 Houses in March 2020

Turkey, as a prominent county in terms of housing sales to foreign investors, had a significant trend in in this field as well, in March 2020. In March, during which 3,036 houses were sold to foreigners, Iranian investors had the biggest share with 465 sales, followed by Iraqi, Russian and Afghani investors with 426, 227 and 184 housing sales respectively.

 

Both New and Used Housing Sales Are on the Rise

Number of new houses sold in March 2020 was 34,089, corresponding to 31.4% of all housing sales in the period. The highest number of new houses sold was recorded in Istanbul with 6,439 units, which was followed by Ankara and Izmir with 3,308 and 2,108 new houses respectively.

 

Mortgage Housing Sales Are Also Increasing

Match of 2020 stood out with promising statistics in mortgage housing sales as well. When compared with the same period of the previous year, mortgage housing sales were reported to increase by 90.4 percent. Mortgage sales had a share of 39.9% in total housing sales, while Istanbul had the highest share in volume terms, with 7.843 units of sale corresponding to 18.1%. On the other hand, Hakkari was the province with the lowest figure in this field, where only 2 houses were sold through mortgage.