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

March 15, 2023 06:27 PM AEDT | By Reuters
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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.

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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