May 25, 2024

As a result of the opportunities offered by the banks when purchasing a house, many people are one step closer to their dreams of owning a house. It is stated that there was an increase of 1.5% in house sales in Turkey in May 2017 compared to the previous year, and the sales figure was 116,558.

Banks offer various payment options for those who want to buy a house. Banks, which offer housing loans with interest rates and terms, apply a mortgage to the house in return for the mortgage loan they offer in case of disruption of payments. This means that the house is considered in the mortgaged immovable category until the loan expires.

The mortgage is established on the house or other immovable that is purchased as collateral in return for the loan given by the bank. In some cases, it is possible to sell the house before the housing loan ends. In case of purchasing a mortgaged house, first of all, the bank mortgage on it must be removed. This situation brings us mortgage sales, one of the housing sales types. Mortgaged housing, which was considered risky until 10 years ago, is now a frequently preferred option for people who want to own a house.

As a result of the monthly reports published by the Turkish Statistical Institute (TUIK), which prepares the official statistics programs in Turkey, it is stated that there was an increase of 17.8% in the sales of mortgaged houses in Turkey compared to May of the previous year and the sales figure was 41,738. Based on this information, it is stated that the share of mortgaged sales in total house sales is 35.8%.

According to the report, where it is stated that Istanbul takes the first place in mortgage sales with 7,698 house sales and a share of 18.4%, the province with the highest mortgage sales share in total house sales is Ardahan with 50%. Looking at the last month, it is observed that the increase in question is based on 30%. According to some real estate experts, this increase in mortgage sales reveals how effective the housing loan interest rates are on the sector.

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