Property sales in Turkey are growing
Property transactions in Turkey rose to 97,019 in January, up 1.7 percent from the same month last year, according to official data released by Turkstat earlier this week.
According to the report, 44,363 units or 48.5% were new homes, with the rest being resale properties. The country's largest city and most popular tourist destination, Istanbul, was the largest, accounting for 16.8% of the year's total, or 16,336 homes sold in January.
The country's capital Ankara came in second with 9,720 homes sold (10 percent), while the Aegean province of Izmir came in third with 5,841 homes sold (6 percent of the country's total). Home sales with mortgages accounted for 29.6 percent of all home sales in Turkey.
In addition, the number of foreign buyers has also increased significantly compared to the same period last year.
In fact, property transactions for foreigners reached 1,742 units last month, an increase year-on-year.
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