Turkey - Monthly House Sales Statistics (Sep20)
According to the monthly house sales statistics announced by TurkStat:- In September, the total house sales declined by 20% MoM from 170k to 137k that indicates a 7% increase YoY.
- Mortgage sales decreased by 53% MoM from 76k to 36k and for the yearly comparison, the decline in mortgage sales has been 39%. The share of mortgage sales in total sales have been 26% while it was 45% in August.
- First sale houses declined by 21% MoM to 41k from 52k and its share in total sales have been 30%.
- Sales to foreigners increased by 35% to 5.269 from 3.893 MoM with a 3.9% share in total sales.
- Comparing the cumulative sales figures, in Jan-Sep 20 period, total of 1.16mn houses sold that corresponds to 34% increase YoY. By the effect of declining interest rates, mortgage sales skyrocketed to 509k in 9M20 from 188k in 9M19 that corresponds to 171% increase.
- As for quarterly comparison; total house sales increased by 89% in Q3 to 536k from 284k in Q2. On the other hand, the total sales in 3Q20 is 49% higher than it was in 3Q19 which was 360k.
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