Development of the real estate sector in Turkey in 2019 – Increase in mortgage financed Turkish property continues in September 2019

In September a total of 149,903 properties were sold, 15.4% more than in September 2018. Istanbul took first place with 23,265 transfers and a share of 15,8%, followed by Ankara with 14,906 (10,1%) and Izmir with 8,830 transfers (6%).

Mortgage-financed increased by 410.2% to 57,811 properties. In total 15,1% (in September 2018 the share was 8.9%) of all transfers were financed by mortgages. Istanbul (8,719 properties) has the top position.

Self-financed transfers decreased by 17.3% to 76,390. Istanbul (11,499), Ankara (6,488) and Izmir (3,802) are in the lead.

At 51,393 properties, new construction sales were 14,7% down compared to the same month last year. The sale of newly built properties has a total share of 35% of all real estate sales for September 2019 (September 2018: 47,3%). The resale of properties increased by 42,3% to 95,510 properties.

Transfers of real estate to foreign citizens decreased by 25,6% year-on-year. The most popular provinces were again Istanbul, Antalya, Ankara, Bursa and Yalova.
Data based on cadastral and land registry office (status 20.10.2019).

Timondro
Property specialists

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