Around 7 million houses have been sold in Turkey over the course of the last five years, Anadolu Agency (AA) reported Sunday.
According to the article, based on data from the Turkish Statistical Institute (TÜIK), locals bought 6.9 million houses while foreigners purchased 154,871 residences.
The data also showed that between September 2015 and 2020, the year 2017 saw the highest sales. In that year, 1.4 million houses were sold while the year 2015 saw 1.29 million residences being purchased.
The sales recorded an increase in 2016 as 1.34 million houses were bought.
The years 2018 and 2019 saw similar numbers of houses being purchased with 1.38 million and 1.35 million residences bought respectively.
As banks decreased their interest rates in 2019 prominently, 1.02 million homes switched owners in only a matter of eight months.
