(MENAFN) Due to mortgaged property sales seeing a drastic fall on the back of high interest rates in housing loans, real estate sales in Turkey slipped by 1.9pct in January as opposed to the same month of the prior year to nearly 84,500.
Additionally, according to the Turkish Statistics Institute's data, mortgaged house sales across Turkey were registered as 26,584, a deterioration of about 20 percent from the previous year's corresponding month.
In more detail, Istanbul had the largest share with 18.4 percent of property sales with around 15,500 units, the latest data revealed, followed by the capital Ankara with 9,012 units and the Aegean city of Izmir with 5,243 units.
However, for the cited month, a total of 1,462 properties were sold to foreigners, a 13.4pct jump from the same period of 2015, as citizens from Iraq bought the largest number of houses with 308 units, followed by Saudis with 136 units.
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