Lower interest rates boost home sales in Turkey

According to the home unit sales statistics for the month of June, published by Turkey's Statistical Institute, or Turk-Stat, 92,936 houses or apartments were sold in Turkey.

Home sales in the last 3 months increased rapidly.Through this process, the market interest rate decreased to 8 percent from 11.6 percent, causing the rush in the housing market.

According to the data compiled by Turk-Stat, the number of the housing units that was sold in April was approximately 23,447, while this figure rose to 29,769 in May and 32,029 in June.

The number of homes in Istanbul sold in June was 19,252, which was equal to 20 percent of Turkey's total home unit sales.