Mortgage Sales Increased 207,6 Percent

Mortgage Sales Increased 207,6 Percent
Mortgage Sales Increased 207,6 Percent

In Istanbul, in the third quarter of 2020, housing sales increased by 21,7 percent in zero housing, 96,5 percent in second hand and 207,6 percent in mortgaged housing. 95 thousand houses were sold in the third quarter and 25 thousand 399 houses were sold in September. While the highest residential sales took place in Esenyurt, housing sales in no district decreased compared to the same period of the previous year. While housing sales to foreigners decreased by 5,8 percent, an increase of more than 20 percent was observed in September. In August, the price of zero housing increased 28,9 percent and the price of second hand housing increased 23,3 percent.


Istanbul Metropolitan Municipality Istanbul Statistics Office published the October 2020 Housing Market Istanbul Economy Bulletin, which evaluates the housing markets in Istanbul. Transactions in the third quarter and September are reflected in the figures as follows:

95 thousand houses were sold in the third quarter

In Istanbul, where 17,7 percent of total housing sales took place, in the third quarter of 2020, housing sales increased by 68,6 percent annually to 95 thousand. 49,2 percent increase was seen in Turkey. In September, home sales, rose 9,2 percent annually in Istanbul, Turkey decreased by 6,9 percent in general.

Used sales increased 96,5 percent

In the third quarter, 73,1 percent of residential sales were realized in second hand house sales. Zero house sales increased 21,7 percent annually, second hand house sales increased 96,5 percent. In September, compared to the same period of the previous year, zero house sales decreased by 15 percent, while second-hand house sales increased by 22,7 percent.

207,6 percent increase in mortgage sales

In the third quarter of 2019, 15 mortgaged houses were sold in Istanbul. In 244, it increased by 2020 percent and reached 207,6 thousand 46. The share of houses purchased with mortgage in total house sales in Istanbul increased from 894 percent in the previous year to 27 percent in the third quarter of 2020. Sales of mortgage-year in September, 49,3 percent in Istanbul, Turkey decreased 13,7 percent worldwide.

Most sales in Esenyurt

61 percent of housing sales in the third quarter took place on the European side. The highest sales were recorded in Esenyurt with 12 houses. Esenyurt was followed by Pendik (781 thousand 5) and Beylikdüzü (282 thousand 4). In the third quarter, while housing sales did not decrease in any district on an annual basis, there was a decrease in 825 districts in September. These districts respectively; Esenler became Tuzla, Kağıthane, Beylikdüzü, Şişli, Küçükçekmece, Başakşehir, Maltepe and Bağcılar.

Sales to foreigners decreased by 5,8 percent

In Istanbul, where 42,5 percent of housing sales to foreigners took place, 5 thousand 64 houses were sold in the third quarter. Sales decreased 5,8 percent annually in Istanbul, Turkey was at the same level with the previous period in general. In September, both in general in Istanbul, Turkey, it was held 20 percent increase over the year.

Zero housing price rose 28,9 percent

In August, house prices increased by 28,9 percent in zero housing and 23,3 percent in second hand. The zero annual 28,5 percent in Turkey in general housing, 25,9 percent increase in second-hand housing recorded.

Housing Market Bulletin October 2020 while preparing, Turkey Statistical Institute (TUIK) and the Central Bank of the Republic of Turkey (CBRT) has benefited from the data.


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