TODAY’S – 7.8 percent fewer houses sold in H1

78 percent fewer houses sold in H1The number of houses sold in Turkey in the first half of this year declined by 78 percent compared to the same period of the previous year, with 524,776 recorded house sales, the Turkish Statistics Institute (TurkStat) announced on Wednesday.June home sales also represented a 36 percent decline compared to sales in May of this year, when 92,936 houses were sold.

Istanbul saw the highest number of sales with 19,252, which was 20.7 percent of total sales in June.

Ankara followed with 10,347 (11.2 percent), and Izmir was next with 5,410 (5.

8 percent). The provinces with the lowest sales were Hakkari, Ardahan and Bayburt, with 14, 15 and 20 sales respectively.

The total number of mortgage-based house sales in Turkey was 32,029 (34.5 percent).

Istanbul again had the highest number of sales in this category, with a 22.8 percent share, while Ardahan had the highest share of mortgage-based sales relative to total sales, making up 60 percent.

A total of 8,507 houses were sold to foreigners in the first half, a remarkable rise of 62.5 percent when compared to the first six months of 2013, while this figure was 1,703 for June.

Foreigners’ first choice of destination for house purchases in the January-June period of this year was Istanbul with 2,517 houses, while Antalya followed with 3,124 and AydIn with 556. In January TurkStat began distinguishing between first- and second-time, or previously owned, house sales.

A first sale simply means the sale of a new house, while a second-time sale is any sale not directly from the builder or contractorFirst-time sales made up 45.9 percent of all house sales in Turkey in the first half.

Istanbul had the highest number in this category with 9,215 (21.6 percent), followed by Ankara with 4,028 and Izmir with 2,230.

SOURCE: Today’s Zaman