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Statistics on the Change of Property Ownership in Turkey |
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Thursday, 27 March 2008 22:00 |
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Due to the economic and political instability over the past year, the number of total changes in property ownership in Turkey decreased by 868,000 in 2007 in comparison to 2006. However in Istanbul, the same number increased by 20%. The number of sales in Istanbul over 2006 was 362,400 and this number increased to 453,000 over 2007.
The total number of changes in title ownership for all regions in Turkey during 2006 was 3,773,000 which also was the year when this number reached its peak. This number in 2007 went down to 2,905,000 which was a decrease of approximately 23%. The rapid growth of the real estate industry since 2005 also shows its effects on these statistics. The same number was 2,173,000 in 2003. Many projects built in every corner of Istanbul were a major reason to why the title exchanges in Istanbul increased immensely. Source: Hurriyet |
