- Aug 17, 2020
- Reading time: 3 minutes
There was record house sales in July, and house sales prices increased by 19.5%.
After the transition to a new normal life, the real estate sector set a historic record. According to the turkstat figures released, in July, housing sales across Turkey were 229,357 units. In December 2019, the month before the highest residential sales were 202,074. The number of residential sales increased by 124.3 percent compared to the same month last year. According to the index data, as of the end of July, the sales price of residential square meters across Turkey increased by 19.5 percent and was TL 2,514. The average rent was 1,393 TL, and the return period of the housing investment was 18 years.
The most sales took place in Istanbul
According to TÜİk, the most residential sales in July were 39,432 units and 17.2% in Istanbul. Istanbul was followed by Ankara with 26,885 units and 11.7% share, and Izmir with 15,614 residential sales and 6.8% share.
House sales prices in Turkey increased by 19.5 percent
According to the next generation real estate valuation and location analysis platform Index, which evaluated the TURKSTAT data, the average sales price of residential square meters in Turkey as of the end of July increased by 19.5% in the last 1 year and was TL 2,514. The average rent was 1,393 TL, and the return period of the housing investment was 18 years.
Ay bazında konut satış adetleri
The price of a square meter of housing is 3 thousand 911 in Istanbul, 1 thousand 973 TL in Ankara
The average sales price of residential square meters in Istanbul, where the most residential sales took place, increased by 13% in the last 1 year and was TL 3,911. Average rent thousand 576 TL, the return period of housing investment is 22 years. House prices in Ankara have increased by 14.9% in the last 1 year, the average house square meter sales price is 1,973 TL, the average rent is 1,289 TL, the repatriation period of housing investment is 17 years. In Izmir, house prices have increased by 14.9% in the last 1 year, the average house square meter sales price is 3 thousand 210 TL, the average rent thousand 597 TL, the return period of housing investment is 20 years.
900 percent increase in mortgage dwelling sales
According to the Endeksa, 130,721 mortgaged houses were sold across Turkey in July. Mortgage housing increased by 900.6% compared to the same month of the previous year, and its share of total residential sales was 57.0%. Second-hand home sales increased by 155.0% in July last year to 161,420. Second-hand housing sales accounted for 70% of total sales.
854,126 homes sold in the first seven months of 2020
A total of 854,126 residential sales occurred in the January-July period of 2020, an increase of 40.5% compared to the same period of the previous year. Compared to the same period last year, mortgaged housing sales were 313.9%, first-time homes sold 8.4%; Second-hand home sales rose 62.1%.
2020 will close with increase in terms of industry
Evaluating the data, Endeksa.com Co-Founder and General Manager Görkem Öğüt said, "The real estate sector, which had a record level of sales in December 2019, started 2020 fast, but with the effect of its pandemin, residential sales units in April and May were well below last year. As of early June, the sector recovered rapidly with the realization of the demand, which was postponed due to attractive housing loan conditions and pandemic provided by public banks. January-July housing sales were 40.5% higher than last year. We anticipate that 2020 will close with an increase in terms of the sector."