Turkey: House sales rebound in October

ANKARA

House sales in Turkey rebounded in October after a sharp drop in September, the Turkish Statistical Institute reported on Monday.

House sales saw an increase of 8.8 percent in October 2015 compared with the same month last year, reaching 104,098 units, the report said.

Sales had declined sharply in September 2015 from a year earlier by 20.1 percent to 92,483 units, although that was the only monthly decline seen this year.

Istanbul maintained its top spot in overall sales with a 17.7 percent share, corresponding to 18.468 units. Istanbul was followed by capital Ankara with 10.6 percent, or 11,028 units, followed by Izmir, which had 5.8 percent of overall sales, or 5,987 units.

The use of mortages for house sales in Turkey decreased 18.7 percent compared with the same month of the previous year. Mortgage sales were at 27,996 in October.

While Istanbul saw the greatest number of mortgages used in house purchases, Ardahan had the greatest share of such purchases at 38.9 percent of all house sales that took place in the province.

House sales to foreigners in October climbed 23.8 percent compared with the same month of the previous year, reaching 2,236 homes. Most house sales were made to Iraqi citizens who were followed by Saudi Arabians, Russians and Kuwaitis.

ANKARA

House sales in Turkey rebounded in October after a sharp drop in September, the Turkish Statistical Institute reported on Monday.

House sales saw an increase of 8.8 percent in October 2015 compared with the same month last year, reaching 104,098 units, the report said.

Sales had declined sharply in September 2015 from a year earlier by 20.1 percent to 92,483 units, although that was the only monthly decline seen this year.

The use of mortages for house sales in Turkey decreased 18.7 percent compared with the same month of the previous year. Mortgage sales were at 27,996 in October.

While Istanbul saw the greatest number of mortgages used in house purchases, Ardahan had the greatest share of such purchases at 38.9 percent of all house sales that took place in the province.