Turkey's Mortgage House Sales Soar In February

- Mortgage house sales throughout Turkey rose by 53.6 percent in February, fuelled by falling interest rates, according to the house sales data released by Turkstat, on Tuesday.

Central Bank of Turkey lowered its policy rate both in January and February with o total 0.75 percentage points, down to 7.5 percent from 8.25 percent in the begining of the year.

Mortgage house sales rose to 36 thousand 952 units, having a 38.9 percent share in total house sales in Turkey in February.

Total house sales rose by 15.0 percent to 95 thousand units, in February, against the same month of the previous year, 18.6 percent of which sold in Istanbul.

The rise in second hand house sales more than trippled the new house sales in February with 22.1 percent, while new house sales stood at 6.8 percent.

Second hand house sales in Turkey rose to 54 thousand 359 units in February against the same month of last year, while new house sales rose to 40 thousand 662 units over the same period.

Number of house sold to foreigners rose to 1,369 units in February, 466 units of which sold in Istanbul, followed by Antalya with 356 house sales, Bursa with 106 house sales, Yalova with 77 house sales, Muğla with 75 house sales and Aydın with 65 house sales.