House sales to foreigners, approached 20,000 in the first half of the year 2019.
Real Estate Investment Association (GYODER), announced that the sales of properties to foreigners in the first half of 2019 compared to the same period last year increased by 68.9% to 19,952 units.
“GYODER indicators – Turkey Real Estate Sector 2019-2. Quarterly Reported” the decline loan interest was expressed in order to increase sales of real estate”.
Report stated about the developments in the real estate sector in the first half of the year, “the second quarter of 2019 properties sales decreased by about 27% compared to the same period of the previous year and closed at the level of 249,363 units. In the first 6 months of 2019 a decrease of about 22% compared to the same period, and the result is 505,796 units. ”
Mortgage sales were effective in shrinking the properties sales
In the first half of the year, compared to the same period of the previous year, sales decreased by 38.6 % and second-hand sales decreased by 17%.
Compared to the same period last year, sales of mortgaged houses decreased by 60.2 %in terms of units.
House sales to foreigners increased by 68.9%
According to the report, Properties sales to foreigners in the first half of 2019, increased by 68.9% compared to the same period last year and reached 19,952 units.
In the second quarter of 2019, a growth of 58.5 % was realized compared to the same period of the previous year. The share of sales to foreigners in total sales was 4.1% in the second quarter.
In the second quarter, Istanbul was the first with 44.3% share in Properties sales to foreigners and Antalya was the second with 21.2% share. Citizens of Iraq, Iran, the Russian Federation was in top of the list in buying properties.