Istanbul, the most populous district in Turkey, with the most developed metropolitan area in the country, held the lead in housing sales all across Turkey with its %16,9 share in this year. 32,583 real estate pieces were sold in the city for the first two months alone.
According to Eda Çelik from Milliyet Newspaper, Ankara followed Istanbul with 19,406 in housing sales. Ankara, capital of the country, hold 10% share in terms of housing sales. Turkey's third biggest city, İzmir, experienced 11,806 housing sales and held a 6,1% share. Among these three big cities, real estate sales fell down by %3, %2,7 and %2,5 respectively.
It was recorded that in the first two months of 2018, 46% of all housing sales were sales made for the first time. While 88,076 pieces of real estate were sold for the first time across Turkey in January and February, 14,999 of them were in Istanbul and 6,659 of them were in Ankara, while 4,793 were in İzmir. Furthermore, a 1,5% drop was experienced in terms of first-time sales.
104,896 homes were relayed in 2018's first two months; 17,584 of them happened in Istanbul, 12,747 happened in Ankara and 7,013 of them changed hands in İzmir. The compared amount of second-hand real estate sales to the total amount of housing sales were 54,4% while the amount of relayed homes experienced a drop compared to the same period of first two months of the previous year.
Drop in Bank Loans
Because mortgage sales are generally done via banking credits, it is considered an important determiner. In terms of mortgage sales in Turkey, a significant drop was recorded in 2018. Compared to the first two months of 2017, mortgage sales dropped by a drammatic 24%.