REAL ESTATE SECTOR IN TURKEY IS STILL LIVELY DESPITE THE CORONAVIRUS CRISIS

REAL ESTATE SECTOR IN TURKEY IS STILL LIVELY DESPITE THE CORONAVIRUS CRISIS

The number of real estate properties sold came close to 1,100,000 despite the pandemic and the bans.The real estate sector in Turkey managed to maintain its strength and dynamism during the Coronavirus crisis. Despite the pandemic, lockdown, and the interprovincial travel restrictions, 1,058,448 real estate properties were sold in the time between January and June. The highest number of sales were made in Istanbul with 150,699 properties while Ankara ranked the second with 93,511 sales. İzmir became the third popular city with 58,852 sales and is followed by Antalya with 44,939 properties sold; whereas Bursa ranked the fifth with 40,240 sales.

 The income made from title deed fees reached approximately ₺7 billion across the nation. The total worth produced by the buyers regarding the deed transfer practices saw a total of ₺195 billion 332 million. During the first half of the year, 624,769 of the 1,058,000 property sales were residential places. Compared to the same period in 2019, residential property sales increased by %23.5 in 2020. The housing loan volume of June alone exceeds that of 2019.

The second-hand real estate property sales also increased by 42% compared to 2019. In the period between January and June in 2019, the number of second-hand property sales was 300.000 whereas it exceeded 426.000 this year.  

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