Sharp drop in home sales
The Turkish Statistical Institute (TUIK) announced the house sales statistics for November 2022.
Consequently, home sales in Turkey decreased by 34.1 percent in November compared to the same month a year earlier, to 117,806.
Istanbul had the highest share of home sales with 19,687 home sales and 16.7 percent. Based on the number of sales, Istanbul was followed by Ankara with 9,367 home sales and an 8 percent share, and Antalya with 7,902 home sales and a 6.7 percent share. The provinces with the fewest number of houses sold were Hakkari with 34 houses, Ardahan with 47 houses and Bayburt with 58 houses, respectively.
SALES OF LOANS DECREASED 57.7 PERCENT
The sale of homes in the period January-November 2022 increased 1 percent compared to the same period of the previous year and amounted to 1,277,659.
Sales of foreclosed homes in Turkey decreased 57.7 percent in November compared to the same month a year earlier, falling to 16,655.
The share of mortgage sales in total home sales was 14.1 percent. The purchase and sale of mortgaged homes in the January-November period, for its part, increased 3.7 percent compared to the same period of the previous year and stood at 258,524.
5 thousand 133 of the mortgage sales of November; 70,170 of the mortgaged sales in the January-November period were first-hand sales.
17.4 PERCENT DECREASE IN FOREIGN SALES
The sale of homes to foreigners decreased 17.4 percent in November compared to the same month of the previous year and went to 6,083.
In the period January-November 2022, the sale of homes to foreigners increased 20.4 percent compared to the same period of the previous year and went to 61,104.
TOP SALES AGAIN TO RUSSIANS
In November, the share of home sales to foreigners in total home sales was 5.2 percent. Antalya ranked first in house sales to foreigners with the sale of 2,616 houses. Antalya was followed by Istanbul with 733 house sales and Mersin with 567 house sales, respectively.
In November, citizens of the Russian Federation bought 2,575 houses from Turkey. Citizens of the Russian Federation were followed by Iran with 510 residences, Iraq with 331 residences, and Ukraine with 277 residences.
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
