Home Sales Rise in Turkey

The consumers are again towards the most reliable source of investment ^^ Real Estate ^^ because of the rumors of crisis in World economy.

Home sales in the second quarter of 2011 increased by 17.8 percent compared to the previous quarter, sales is gaining momentum outside of the three largest provinces. While there was a limited increase at 1.2 percent in new housing prices in Turkey , the housing loan demand continued to expand.

In the second quarter the demand for housing loans increased

The use of housing loans in the second quarter of 2011 reached 66.7 billion and has continued to expand. However, as a result of decisions taken by the Central Bank, together with rising interest rates in July and August and September, it's been seen a slowdown in housing loan demand and it drew attention to the decline at 9,6 percent in the share of housing loans in total loans.


Housing loan installments lengthened to reduce maturities

While 9.38 billion dolars mortgage loans is being used in the second quarter of the year, according to the previous period, it was found that the credit users demanded for credit more than 3,000 TL  average per capita.

As the housing loan is used at average 75.000 TL per capita, it's seen the consumers prefer longer housing loan installment payments to reduce the maturity of thirty days because of increased interest rates.

While the use of 10-year-term mortgage loan is expanded,  It is noteworthy that the share of 10-15 year maturities increased in the third quarter.