Homes sales in Turkey rose by 5% y/y to 1.41mn units in 2017, marking a new all-time high, following the 4% y/y gain in 2016 to 1.34mn units, national statistics office TUIK reported on January 19.
Mortgage sales rose by 5% y/y to 473,099 units in 2017.
In Istanbul, sales were up 3% y/y to 238,383 while home sales in Ankara, the country’s second largest city, rose 4% y/y to 150,561 units last year.
TUIK also reported that property sales to foreigners increased 22% y/y to 22,234 units last year.
Consumer sentiment in Turkey declined for a fifth month in a row in December to hit 65.1, the lowest monthly level seen in 2017. People's probabilities of buying a car and a house over the next 12 months increased 4.9% m/m and 19% m/m, respectively, in December, after registering 11.4% and 22.1% declines in November.