The data provided by Turkey’s Institute of Statistics shows that sales of residential property in the country totaled almost 96 thousand units in February 2018, showing a 5-percent decrease compared to 2017.
The largest share of houses and apartments sold is located in Istanbul — almost 17% or over 16,000 units. Ankara comes next with 10 percent and Izmir showing the result of 6.2%, Hurriyet Daily News reports.
The number of transactions involving a mortgage has decreased in February by about 28% compared to a year earlier. The share of such transactions accounted for 29%.
While domestic demand for Turkish real estate is in decline, the buying activity of foreigners has jumped by 32% over the year. It should be noted that 35% of February’s deals with non-residents were concluded in Istanbul.
Housing in Turkey is the most popular with citizens of Iraq, Saudi Arabia, Russia, Iran, and Afghanistan.