Istanbul Ranks First In Housing Loans

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According to a survey conducted by Pronote Real Estate Development and Consultancy, as of the first quarter of 2017, the use of housing loans in Turkey was mainly implemented in Istanbul. Further in the five leaders follows Ankara, Izmir, Bursa and Antalya.

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Emir Sezgin, the founding partner of Pronote Real Estate Development and Consultancy, which provides brokerage and advisory services to users, property owners and investors in the real estate sector, estimated that the total amount of all housing loans in Turkey in the first quarter of 2017 reached 173 billion Turkish liras. The aggregate amount of total housing loans increased by 18% compared to the same period last year.

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The top five were: Istanbul, Ankara, Izmir, Bursa and Antalya. According to the research, as of the end of March 2017, 57.4 billion Turkish liras in Istanbul, 20.7 billion in Ankara and 12.4 billion in Izmir was used to provide housing loans to the population. In the 3 largest provinces, taking into account the total volume of , the average rates were in Istanbul, Ankara and Izmir: 33.18%, 12.01% and 7.22% respectively.

Further in the rating for the total amount of used housing loans are the cities of Bayburt, Ardahan, Hakkari, Mus and Gumushkhane. By the end of March 2017, the minimum amount of housing loans is 56.1 million Turkish liras in Bayburt, and the average size of the Bayburt loan is 0.03 percent in the aggregate amount of all housing loans in Turkey.

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