Turkish housing market grows in May as foreign buyers pour in
Turkey’s housing market grew 16.2% year-on-year in May, data showed due to a sharp downturn in the same month last year caused by the initial measures to curb the coronavirus outbreak.
Home sales still marked the lowest level in a year, mostly due to a strict nationwide lockdown in May to curb the rise in daily cases
Some 59,166 residential properties were sold last month, according to the Turkish Statistical Institute (TurkStat) data. Month on-month sales were down 38.2%.
Sales surged on high demand from foreign buyers, who purchased 1,776 homes in May, a 106.5% year-on-year increase, the data showed.
More than half of the residential properties, or 818 houses, bought by foreigners in the month were in Istanbul, followed by the Mediterranean resort city of Antalya with 341 and Ankara with 106.
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Blog : Turkish housing market grows in May as foreign buyers pour in
