Turkish house sales drop 18% year-on-year in February -stats institute

Reuters

ISTANBUL (Reuters) – Turkish home sales fell 18% year-on-year in February to 80,031 houses, with sales to foreigners dropping 27%, data from the Turkish Statistical Institute showed on Wednesday.

Russians topped the list of foreigners with 1,183 houses purchased, reflecting still how many have sought a financial haven in the wake of Moscow’s invasion of Ukraine and the fallout of Western sanctions.

Russians were followed by Iranians, Iraqis and Ukrainians among the foreign buyers.

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The data also showed February mortgaged sales declined 12.7% from a year earlier to 17,357 houses, accounting for 21.7% of the total sales in the period.


(Reporting by Ezgi Erkoyun and Ceyda Caglayan; Editing by Daren Butler)


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