Housing loans in Turkey mark record surge with nearly $613 million last week

As housing loans increased by a record TL 4.2 billion in June, public banks provided TL 3.7 billion of this increase. Ziraat Bank, VakıfBank and Halkbank’s extended four new loan packages on June 1 to revive the economy in the wake of the COVID-19 pandemic which contributed to this increase. Residential property sales dropped by 44.6% YoY but increased 19.1% MoM, signaling an increase in demand.