Title Deed Fee Revenue Surpasses 35.1 Billion Lira in First Half of Year
Real Estate Sales in Turkey See Decrease in First Half of 2021
In the first six months of 2021, a total of 1 million 223 thousand 47 real estates were sold in Turkey, including housing, land, fields, and workplaces. Out of these, 545 thousand 74 were houses, accounting for 55.4 percent of the total sales. Non-housing real estate made up the rest of the sales, totaling 677 thousand 973 units.
However, there was a 10 percent decrease in total real estate sales compared to the same period last year, which saw 1 million 358 thousand 551 transactions. The total number of transactions in the first half of 2021 was 8 million 559 thousand 509, with 6.3 million being other transactions, 1.2 million sales, 638 thousand mortgages, 199 thousand transfers, and 50 thousand corrections.
The total amount of title deed fees collected from these transactions rose by 28.5 percent, reaching 35 billion 106 million lira. Istanbul led the way in the number of transactions and fees collected, with 760,071 transactions and 10 billion 395 million liras in fees.
Housing sales in the first half of 2021 decreased by 3.7 percent compared to the previous year, with Istanbul, Ankara, and Izmir being the top cities for housing sales. Mortgage sales hit a record low due to high interest rates, accounting for only 9.4 percent of total sales.
Overall, the real estate market in Turkey is seeing fluctuations in sales and fees, reflecting the impact of various economic factors. It remains to be seen how the market will continue to evolve in the coming months.
