Housing sales are not getting enough of the record. Housing sales, which bottomed out in the first half of the year and started to recover in the second half, increased beyond expectations in the last month. Housing sales in December increased by 113.7 percent compared to the same month of the previous year and became 226 thousand 503. Thus, the ‘highest sale of the year’, ‘best range sale of all time’ and ‘the 2nd highest monthly sale in history’ were made. Due to the fluctuation in the exchange rate, the search for safe investments and the concern that housing prices will increase even more were the important factors that brought the record.
SECOND SUMMIT OF ALL TIME
The losses in the first months were compensated, thanks to the public banks’ lowering of loan interest rates, and the conversion of investment instruments such as foreign currency, gold and time deposits to real estate during the year. Housing sales decreased by only 0.5 percent in 2021 compared to the previous year and became 1 million 491 thousand 856. The second best all-time peak was seen on an annual basis. The highest annual sales were made in 2020 and the figure of 1 million 499 thousand was exceeded.
SHARE OF CREDIT SALES STAYS AT 19.7
While the sales of housing with bank loans were 294 thousand 530 in 2021, the share of sales on loan in total housing sales remained at 19.7 percent. On the other hand, 1 million 197 thousand 326 houses were sold with other sales methods such as cash and promissory notes. This shows that there is a serious resource transfer from alternative investment instruments to the real estate sector. On the other hand, while new house sales were 461 thousand 523 last year, second-hand house sales were 1 million 30 thousand 333.
Thanks to those who turned the increase in the exchange rate into an opportunity, a record was broken in house sales to foreigners. Housing sales to foreigners increased by 77.1 percent in December 2021 compared to the same month of the previous year and became 7 thousand 841, while it increased by 43.5 percent compared to the previous year and reached 58 thousand 576. Thus, the highest figure of all time was seen in both monthly and annual sales.
Iranian citizens bought 10 thousand 56 houses from Turkey in 2021. Iran was followed by Iraqi citizens with 8 thousand 661 residences and Russian citizens with 5 thousand 379 residences. Istanbul took the first place in house sales to foreigners with the sales of 26 thousand 469 houses. Antalya was followed by Antalya with 12 thousand 384 house sales and Ankara with 3 thousand 672 house sales. The real estate sector aims to sell 70,000 residences to foreigners this year.
THE SHARE OF WOMEN INCREASES
In Turkey, in 2021, women owned 506 thousand 495 houses with a share of 34 percent, men owned 819 thousand 730 houses with a share of 54.9 percent, while 28 thousand 900 houses were purchased jointly by men and women with a share of 1.9 percent. The share of women in real estate sales was 32.2 percent in 2020, 31.2 percent in 2019, and 30.6% in 2018.