On average, 2.5 houses were sold every 1 minute in Turkey!
When the 2013-2020 housing sales data are analyzed, 10 million 586 thousand 101 houses were sold in Turkey. This means an average of 2.5 houses per minute.
The construction and real estate sector, which is one of the locomotive sectors of the Turkish economy and which is stated to give life to more than 250 sub-sectors, talks about the increasing costs recently. It is stated that the cost of basic raw materials of construction such as the ton price of rebar, cement and sheet metal has increased by more than 100 percent. When this is the case, it is stated that house sales have slowed down to a certain extent.
Costs are high but interest in housing continues
The importance of real estate investment throughout Turkey has a great value in every period. Even in a negative situation such as increasing costs and high loan rates, house sales continue. The data we have reached as Emlaktalastdakika points to the importance of the real estate sector in recent years.
According to the 8-year average, 2.5 houses were sold per minute
In the period covering 2013-2020, a total of 10 million 586 thousand 101 houses were sold in Turkey. This means an average annual sale of 1 million 323 thousand 263 houses. In this period, when the real estate sector experienced great activity, daily sales averaged 3 thousand 625 units. This means that on a 24-hour day average, 151 houses are sold per hour and 2.52 houses per minute.
Post-pandemic credit campaign mobilized the industry
With the housing loan campaign carried out after the pandemic in 2020, intense housing sales were realized and the stocks were almost exhausted. For loans used through Halkbank, Ziraat Bank and Vakıfbank, 0.64 percent interest was applied for new houses and 0.74 percent for second-hand houses. Moreover, the maturity period was calculated over 15 years. This picture brought record house sales throughout 2020 as part of the campaign, which lasted for a short time.
The lowest rate is at 1.35 percent
When the daily figures are analyzed, the 120-month housing loan interest rate in state banks is around 1.35 percent. This rate considerably increases the total amount of repayments and installments. In branded housing projects, contractors provide low-interest loans under special agreements with banks, but this is not possible in every project.