TSI (Turkey Statistics Institute) announced Turkey's real estate sales data for February 2021. Accordingly, when the real estate sales were evaluated on a monthly basis, it was observed that there was little movement in the course.
The real estate loan interest rate declined slightly in February, so sales and transfers rose slightly compared to January 2021. However, this rise can be interpreted as neither the trend has changed nor the problem is left behind.
According to many statistical data, it is feasible to evaluate the sales and transfer of houses in different ways. Generally, it can be said that;
Both new housing sales and resale transfers are below the previous year, both in February and January-February periods.
However, it is not enough to make the assessments by comparing them with the same period of last year. At least one should look at the situation compared to the last month. When evaluated in this way, it is observed that there is a bit of flow and an increase in the monthly trend. But is that enough, actually not at all!
Let's first evaluate the case compared to last year:
New housing unit’s sales were 34% in February last year compared to last year and remained under 36% in the first 2 months.
The transfer in the resale houses declined by 31% in February compared to last year and it fell 34% in the first 2 months.
Mortgage sales and transfers declined by 67% in February compared to last year and there is a 70% regression in two months.
A more moderate decrease was observed in sales and transfers made without establishing a mortgage. In spite of the fact that the rate is in the direction of decrease, it’s at a level of 11% in February and 14% in two months.
There seems to a little movement in February compared to January 2021. But this movement is far from the dimension that will be taken so much attention. It cannot be interpreted that the trend has changed, and the problem is left behind.
New housing sales with mortgages are at the level of 4 thousand and still very low. But still better than the 3 thousand sales in January.
Resale housing transfer with a mortgage has raised from 7 thousand to 10 thousand in February 2021. When it comes to total sales and timeshare ... New house sales seem to be a bit declined.
The new houses total sales, which were 22 thousand in January, only approached 25 thousand in February. Resale housing was at the level of 48 thousand in January, the turnover in February increased to 56 thousand. For luxurious apartments for sale in Istanbul click the link.