Posted on 26 February 2010
The south-eastern and eastern regions of Turkey accounted for 28% of a 3.9% quarterly increase in Turkish home sales in the fourth quarter of last year. This was by far the largest proportion held by any region, and proves that the south-east of Turkey has one of the brightest property markets in the country.
To be precise sales of homes in eastern and south eastern Turkey increased by 25.6% on a quarterly basis in the fourth quarter of last year. This can clearly be seen as well above the national average growth, which, as was mentioned was a still-impressive 3.9%.
The provinces of Mardin, Batman, Şırnak, Siirt led the way in the last quarter of the year by increasing the number of homes sold by 7.7 percent or 334 homes.
İstanbul, considered to be the lifeline of the Turkish economy, gained an extra 2,358 homes in the fourth quarter, a quarterly growth of 10.3 percent.
The fact that these provinces are all inland indicates that the sales are primarily to Turkish residents. This, therefore is clearly an indication of the improving local economy in the region, based on industries other than tourism, which is obviously a good thing for the Turkish economy as a whole.
Apart from that, there were several towns near the coast in the north west of the country noted as among the fastest rising, at the top of the list: Kocaeli, Bolu.
It is also worth noting, that, according to Turkstat the second quarter of 2009 saw a massive spike in Turkish home sales, with 194,743 home selling during the period. The 4th quarters rise brought the quarterly total to 116,229, which, with the exception of Q2 is higher than at any point since 2007.