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Fueled by mortgages, house sales in Turkey skyrocket 210% in June

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Home sales recorded a whopping 209.7% year-on-year increase in June after public lenders announced mortgage loans at historically low rates to help avert an economic fallout from the coronavirus pandemic.

June recorded the highest monthly level of sales since last December, back when more than 202,000 houses were sold as the sector again benefited from interest rate cuts.

According to the Turkish Statistical Institute (TurkStat), a total of 190,012 units were sold in June, with sales of mortgaged houses accounting for 53.4% of the total.

Istanbul – Turkey's largest city by population and one of its top tourist centers – took the lion's share of housing sales with 21,915 units in June.


I think the reason is lockdown, If you live in a country like Turkey, people are moving out of paper money into Housing and Gold

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