Homes sales in Turkey rose by 29% y/y to a total of 140,298 units in September, data from national statistics office TUIK showed on October 24.
In Istanbul, the country’s largest city, home sales registered a sharp 38% y/y rise to 23,471 while in Ankara a total of 13,945 units were sold in the month, a 21% increase on a year earlier.
Property sales to foreigners jumped 75% y/y to 2,236 units in September, data also showed. Foreigners bought 15,241 properties in Turkey across January-September, 15% y/y up from 13,210 units in the same period of 2016.
In the first nine months of the year, home sales in Turkey increased by 10% y/y to 1.03mn units.
A record high 1.34mn residential units were sold in the country last year, marking a 4% y/y increase. A total of 1.29mn units were sold in the country in 2015, 11% up on the 2014 figure.