Turkish house sales fall 7% in September after run-up

Credit: REUTERS/UMIT BEKTAS

Turkish housing sales fell 6.9% year-on-year in September to 136,744 houses, data from the Turkish Statistics Institute showed on Thursday, reversing a surge triggered by cheap loans meant to revive economic activity amid the pandemic.

ISTANBUL, Oct 15 (Reuters) - Turkish housing sales fell 6.9% year-on-year in September to 136,744 houses, data from the Turkish Statistics Institute showed on Thursday, reversing a surge triggered by cheap loans meant to revive economic activity amid the pandemic.

The data also showed mortgaged sales fell 38.5%, as loan rates increased.

Mortgaged sales accounted for 26% of all housing sales, the data showed. In the January-Sept period, house sales increased 34.2% from the same period last year.

(Reporting by Ezgi Erkoyun and Tuvan Gumrukcu; Editing by Jonathan Spicer)

((ezgi.erkoyun@thomsonreuters.com; +90-212-350 7051; Reuters Messaging: ezgi.erkoyun.thomsonreuters.com@reuters.net;))

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