More than 5% in sales of housing projects to foreigners in Turkey

The rate of foreigners’ sales of new apartments in the registered projects reached 10.9% during the month of August 2021

More than 5% in sales of housing projects to foreigners in Turkey
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2021-09-23 Last update 2021-10-01

More than 5% in sales of housing projects to foreigners in Turkey

Foreigners' sales of new apartments in brand-name projects increased by 10.9% during August of this year, while the new home price index in Turkey witnessed an increase of about 4% during the mentioned period.

The new home price index rises nearly 4% in August

The report on the new home price index in Turkey, which is prepared periodically, was released in cooperation between (REIDIN) the Real Estate Investment and Development Information Network and (GYODER) the Association of Real Estate and Real Estate Investment Partners.

According to the data in the report, Turkey's new house price index increased by 0.48% in August 2021, compared to the value of the index in the previous month, and by 3.73% compared to the value in the same month last year, while the index has risen since the beginning of its study in 2010 to 108.80%.

Prices of apartments in Turkey

2+1 apartments rank first with the highest index

In detail, the new apartments of the 2+1 type ranked first among other apartment types, in terms of the increase in the value of its index during August of this year 2021, where the increase in the value of its index amounted to 0.79%.

It was followed by the new 3+1 style apartments with a 0.59% increase in the value of their index, and the 4+1 style apartments with an increase in their index value of 0.52%.

house prices in Turkey

Significant progress in foreign sales of registered trademark projects

According to the data contained in the mentioned report, the percentage of foreign sales of the total general sales of new residential apartments in the registered projects during the month of August of this year amounted to 10.9%, an increase of 4.57% over the percentage of sales recorded in the previous month.

While the percentage of foreign sales during the last six months amounted to 6.61% of the total sales, of new apartments in projects with a registered mark.

2+1 apartments are the most preferred by foreign investors

In the classification of foreigners' sales of apartments in Turkey according to their patterns in the registered projects, the new apartments of the 2+1 type ranked first, as the type most preferred by foreign investors.

The percentage of sales of this type amounted to 35.43% of the general sales to foreigners of new apartments in the registered projects during the month of August 2021.

Followed by new apartments of the 1+1 type with 31.23% of foreign sales in registered projects, and 3+1 apartments came in third place with 17.46%.

While the apartments of the 4+1 type, ranked fourth with 12.7% of foreign sales in the branded and registered projects, and foreigners' sales of other types of new apartments in the registered projects amounted to 3.17%.

شقق للبيع بالتقسيط انجليزي شقق للبيع بالتقسيط انجليزي

The majority of sales are made with advance payment

With regard to the payment methods through which the purchase of new apartments is carried out, in the projects registered with the mark during the month of August 2021, the purchase with advance payment ranked first with a rate of 59.28%.

Followed by the purchase of financial bonds with a rate of 26.17%, and in the third place was the purchase using the bank loan with a rate of 14.55%.

The real estate stock depreciation rate reached 7.98%

With regard to real estate stock figures, the report stated that the real estate stock consumption rate for new apartments reached 7.98% during August 2021, while the value of this percentage was 6.12% during July 2021.

The percentage of sales of registered projects from ready-to-delivery apartments amounted to 59.95% during August 2021, achieving an increase over the percentage in the previous month, which amounted to 49.17%, while the percentage of sales of unfinished apartments decreased from 50.83% in July 2021 to 40.05% during August 2021.

 

Edited by Imtilak Real Estate©

Reference: REIDIN

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