Turkish house sales slip 2.5% in October despite rate cuts

Credit: REUTERS/MURAD SEZER

Turkish housing sales slipped 2.5% year on year in October to 142,810 houses, the Turkish Statistical Institute said on Monday, halting a two-month upswing despite sharp monetary easing.

ISTANBUL, Nov 18 (Reuters) - Turkish housing sales slipped 2.5% year on year in October to 142,810 houses, the Turkish Statistical Institute said on Monday, halting a two-month upswing despite sharp monetary easing.

Sales last month were also a bit lower than in September. Turkey's central bank has slashed interest rates by 1,000 basis points since July to boost recovery from a recession and last year's currency crisis.

(Reporting by Ceyda Caglayan and Ebru Tuncay; Writing by Jonathan Spicer Editing by Dominic Evans)

((jonathan.spicer@reuters.com; Reuters Messaging: jonathan.spicer.thomsonreuters.com@reuters.net @jonathanspicer))

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