Housing Sales Dropped by 17% in July

The total number of houses sold in Turkey in July decreased by 17% compared to the same month of the previous year, to 123,603. According to the data announced by the Turkish Statistical Institute (TÜİK), the number of first-hand housing sales in July decreased by 8.6% compared to the same month of the previous year, to 42,529. The number of second-hand housing sales decreased by 20.8% in the same period, to 81,074. The share of first-hand housing sales in total housing sales was 34.4%, and the share of second-hand sales was 65.6%. The share of mortgaged housing sales in total housing sales was 19.3%, and the share of other sales was 80.7%. Mortgaged housing sales increased by 23.7% in July compared to the same month of the previous year, to 23,888. Other housing sales decreased by 23.1% in July on an annual basis, to 99,715. Housing sales to foreigners increased by 1.9% in July compared to the same month of the previous year, to 2,120. In July, the share of housing sales to foreigners in total housing sales was 1.7%. The most housing sales to foreigners were made to citizens of Russia, with 394, Iran, with 189, and Ukraine, with 145.