Page 78 - TURKRptOct19
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     Total Production
         52,242
       11%
        921,187
       -11%
    P. Cars Sales
    21,544
  -20%
  193,320
  -44%
     Total Sales
       26,862
      -24%
       246,161
       -46%
    P. Cars Imports
    13,516
  -27%
  110,160
  -52%
   Total Imports
      16,426
    -29%
    134,565
    -52%
   P. Cars Exports
    33,852
  11%
  526,496
  -8%
     Total Exports
       54,604
      19%
       806,666
       -6%
    P. Cars Exports (USD mn)
    510
  3%
  7,406
  -9%
     Total Exports (USD mn)
       1,793
      8%
       20,334
       -4%
    Tractor Production
    1,198
  -23%
  13,810
  -55%
   Grand Total
        53,440
         10%
       934,997
       -12%
      source: osd
    9.1.3 Transport sector news
9.1.4 Construction & Real estate sector news
                Turkish carriers agree to price cap domestic flights. The price of one-way tickets on domestic flights will not exceed Turkish lira 450 (around €70).
There are some 10 carriers, including charter airlines, operating in Turkey.
In January-August, the number of domestic air passengers declined by 13% y/y to 68mn, according to the latest official data.
                    House sales in Turkey rose 5.1% y/y in August following seven consecutive months of decline, data released by official Turkish statistics agency TUIK showed on September 18.
The pick-up in sales followed on the heels of the central bank slashing its key interest rate by 425 bp to boost an economy that became mired in a recession early this year. In September, it cut the rate by a further 325 bp.
The data showed home sales totalled 110,538 in August.
In July, sales fell 17.5% y/y as high mortgage rates, coming on the back of monetary tightening introduced in the wake of the summer 2018 lira crisis, continued to hinder the property market.
Turkish state-owned banks have received over 150,000 applications for housing loans over the past one and a half months, according to Altan Elmas, head of Turkey’s Housing Developers and Investors’ Association (KONUTDER).
He noted that potential buyers were flocking to the banks after state-owned lenders slashed interest rates on housing loans in August after the central bank went ahead with substantial monetary easing.
“Some 75% of those loan applications are for already-lived-in homes,” Elmas said, adding that a large number of applications were declined because of applicants’ bad credit ratings.
“For instance, 25% of people who sought credit to buy homes from developer Sur Yapi saw their applications rejected,” Elmas said.
   78 TURKEY Country Report October 2019 www.intellinews.com
 




























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