New Housing Receivables Alert: Credit Sales Surge with Significant Price Advantage – Latest Updates
Housing Sales Increase by 39.7% in January
The first housing sales figures of the new year have been announced, and the numbers are looking promising. According to Milliyet.com.tr, in January, housing sales increased by 39.7% compared to the same month last year, reaching a total of 112,173 units sold. This significant rise in sales figures has been particularly noticeable since December.
One of the most notable increases in housing sales was seen in credit sales. Mortgage sales recorded an impressive 182.8% increase, with 16,726 units sold in January compared to the previous year.
Demand for second-hand houses has also seen a significant increase, with zero housing sales throughout Turkey rising by 29.8% in January compared to the same month the previous year, totaling 32,785 units. Second-hand housing sales saw the biggest change, increasing by 44.2% to reach 79,388 units sold during this period.
Real estate expert Mustafa Hakan Özelmacıklı highlighted the significant price advantage of second-hand houses, stating that there is a noticeable increase in demand for them. The effects of last year’s market trends can still be felt, contributing to the overall positive performance of housing sales in January.
The increase in credit sales can be attributed to various factors, including lower interest rates on housing loans. The expectation is that loan interest rates will continue to decrease in the coming months, potentially reaching as low as 2% by the end of the year. High interest rates are currently seen as an alternative for consumers, who are looking for better financing options.
Second-hand housing sales continue to dominate the market, with prices remaining competitive and offering significant advantages for buyers. With a variety of options available, including newer constructions built after regulatory changes in the country, the demand for second-hand properties remains strong.
Overall, the housing market in Turkey is showing positive signs of growth, with both new and second-hand sales seeing significant increases. With favorable market conditions and competitive prices, the trend of rising housing sales is expected to continue in the foreseeable future.
