The new home price index in Turkey rises by 94.75% year-on-year.

A significant increase in the New Home Price Index in Turkey during September, along with other latest news and statistics recorded in the Turkish real estate market during the mentioned period via Imtilak.

Real Estate Reports: 94.75% Increase in the New Home Price Index in Turkey During September

The report related to the New Home Price Index, which is prepared periodically in cooperation between (REIDIN) Real Estate Investment and Development Information Network and (GYODER) Association of Real Estate and Real Estate Investment Partners, has been released.

According to the data in this report, the New Home Price Index in Turkey during September of this year increased by 3.39% compared to the previous month, and by 94.75% compared to the same month last year. Since the start of the study in 2010, the index has risen by 308.40%.

2+1 Apartments Rank First in Index Increase

In detail, new 2+1 apartments ranked first among other apartment types in terms of index value increase during September this year, with an increase in their index value of 5.25% during the mentioned month.

New 3+1 apartments came in second place with a 4.19% increase in their index value, while 4+1 apartments ranked third with an increase of 0.74%. The fourth place was occupied by 1+1 apartments with an increase of 0.10% during the ninth month of this year.

Foreign Sales Accounted for 2.45%

According to the data in the mentioned report, the percentage of foreign sales of new residential apartments in branded projects during September of this year reached 2.45%, while the percentage of foreign sales during the last six months reached 18.11% of the total sales of new residential apartments in branded projects.

Three Types of New Apartments Equally Preferred by Foreign Investors

In the classification of foreign sales according to the types of new residential apartments in branded projects, the first place went to 1+1, 2+1, and 4+1 types with equal sales percentages of 18.18% each of the total foreign sales of new residential apartments in branded projects during September of this year.

The second place went to new 3+1 apartments, which achieved 9.09% of new apartment sales in branded projects during the mentioned month, while foreign sales of other types accounted for 36.36% of foreign sales in branded projects.

The Majority of Sales Were Made by Advance Payment

Regarding the payment methods used for purchasing new residential apartments in branded projects during September 2022, advance payment ranked first with 63.79%, followed by promissory notes at 30.71%, and bank loans at 5.50%.

Real Estate Inventory Consumption Rate Reached 2%

Regarding real estate inventory figures, the report stated that the inventory consumption rate of new residential apartments in branded projects reached 2% during September 2022.

The percentage of sales of ready-to-deliver apartments in branded projects reached 55.83% during September 2022, while the percentage of non-ready apartment sales in branded projects during September of this year reached 44.17%.

Edited by: Imtilak©

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