Housing Sales Decrease in Istanbul in November Prices Increase

Housing sales fell in November in Istanbul, prices increased
Housing sales fell in November in Istanbul, prices increased

Housing sales in Istanbul decreased by 15,1 percent annually in November. Second-hand house sales increased 23,7 percent annually and zero home sales decreased by 19,8 percent. The highest decline was in the number of mortgaged houses. Housing sales in only five districts increased compared to the same period last year. 18,8 percent of total house sales; 49,2 percent of the house sales to foreigners were made from Istanbul. In October, the annual price increase was 29,5 percent for zero homes and 27,3 percent for second hand homes.

Istanbul Metropolitan Municipality IPA Istanbul Statistical Office published the December 2020 Housing Market Istanbul Economy Bulletin, which evaluates the housing markets in Istanbul. The transactions carried out were reflected in the figures as follows:

Housing sales decreased by 15,1 percent annually

In Istanbul, housing sales in November increased by 6,8 percent compared to the previous year's average, and decreased by 15,1 percent annually to 21. Residential sales across Turkey with the same level of the previous year's average of 158 percent decrease compared to November of the previous year realized. 18,7 percent of total housing sales took place in Istanbul in November.

Housing prices increased

In October, the annual increase in housing prices was 29,5 percent in zero houses and 27,3 percent in second hand houses. The annual increase in Turkey, 30,4 percent in the zero issue was realized as 28,5 percent in the second-hand housing.

Percent of sales 70,8 of them are pre-owned

In November, 70,8 percent of house sales in Istanbul were in second hand house sales. Second-hand house sales increased by 23,7 percent compared to the previous year's average, while zero home sales decreased by 19,8 percent. According to November 2019, second-hand house sales in Istanbul decreased by 8,8 percent and zero home sales decreased by 27,3 percent.

The highest decrease is in zero housing mortgages

Mortgaged house sales in Istanbul increased by 7,6 percent in November compared to the previous year average. Sales of second-hand mortgaged houses increased by 17,1 percent compared to the previous year's average, while zero mortgage sales decreased by 10,8 percent. Compared to November of the previous year, second-hand mortgaged house sales decreased by 37 percent and zero houses by 43 percent.

Housing sales increased in only five districts

In November, housing sales in only five districts increased compared to the same period of the previous year. The districts where the increase occurred were Zeytinburnu, Beykoz, Esenyurt, Çekmeköy and Sultanbeyli, respectively. The highest decrease was recorded in Esenler, Başakşehir, Küçükçekmece, Sultangazi and Gaziosmanpaşa, respectively.

49,2% of sales to foreigners are in Istanbul

Housing sales to foreigners in November increased by 40,6 percent compared to the previous year's average, and 29,6 percent compared to November of the previous year. 18,8 percent of the total house sales and 49,2 percent of the house sales to foreigners came from Istanbul.

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

Armin

sohbet

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