BOLSTERED by strong domestic demand, house sales increased by 6.4 percent in May compared to the same month in the previous year, reaching a total of 114,800.

Istanbul had the highest share of the increase, with 18.8 percent of total house sales around the country, followed by Ankara with 9.9 percent and İzmir with 5.8 percent.

In the same month, 1,612 houses were sold to foreigners, a decline of 18.7 percent compared to the same month the previous year.

Iraqis maintained their high interest, buying 163 houses, and ranking first in countries buying property, followed by Kuwaitis with 182 houses, Saudi Arabians with 160, Afghans with 125 and Russians with 121.

Foreigners mostly preferred to buy property in Istanbul, with 511 houses sold, followed by Antalya with 407, Bursa with 118, Trabzon with 89, Aydın with 88 and Ankara with 54.

Furthermore, 35,423 mortgaged houses were sold, a decline of 11.6 percent compared to the same month last year. Mortgaged house sales had a 30.9 percent share of all house sales in Turkey.

Turkey tops house price table

In terms of house prices, Turkey’s property market is number one in Europe.

According to Knight Frank’s Global House Price Index, the country has seen property values soar 15.3 per cent in the year to Q1 2016, ahead of Sweden (12.9 per cent) and Austria (7.6 per cent).