New home price index in Turkey | An increase of 75.07% on an annual basis

New home price index in Turkey | An increase of 75.07% on an annual basis

Some real estate platforms announced an increase in the price of new homes in Turkey by 75.07% in July of this year, follow the details via Imtilak Real Estate company.

The report on the new home price index, 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 contained in this report, the price index of apartments in Turkey in July of this year witnessed an increase of 4.66%, compared to the value of the index in the previous month, and by 75.07% compared to its value in the same month of last year. Its value since the beginning of its study in 2010 is 263.8%.

4+1 apartments rank first with the highest index

In detail, the new apartments in Turkey of the 4+1 type ranked first among other apartment types, in terms of the increase in the value of its index in July of this year, as the increase in the value of its index reached 6.42% during the mentioned month.

The new apartments of the 3+1 type came in the second place with an increase of 5.89% in the value of their index, and the 2+1 apartments came in the third place with an increase of 5.47% in the value of their index, and 1+1 apartments ranked fourth with an increased rate of 0.23% in July of this year.

Foreign sales accounted for 11.59%

According to the data contained in the aforementioned report, the percentage of foreign sales of the general sales of new residential apartments in the registered projects in July of this year reached 11.59%, an increase of 5.26%, compared to the rate in the same month last year.

While the percentage of foreign sales during the last six months amounted to 21.35% of the total sales of new apartments in the projects with the registered mark.

1+1 apartments are the most preferred by foreign investors

In the classification of sales of foreigners according to the new apartment types in the registered projects, the new apartments of the 1+1 type ranked first as the type most preferred by foreign investors.

In this context, the percentage of sales of the 1+1 new apartments amounted to 48.15% of the general sales to foreigners of new apartments in the registered projects in July 2022.

The new apartments of the 2+1 type came in second place with 25.93% of foreign sales in the registered projects, and the 3+1 apartments came in third place with 11.11%.

4+1 apartments came in fourth place with a rate of 7.41%, while the percentage of sales of other types of new apartments in projects with a registered mark amounted to 7.41% of foreign sales of new apartments in projects with a registered mark.

The majority of sales were made with prepayment

With regard to the payment methods through which new residential apartments were purchased in registered projects in July 2022, the purchase with pre-payment ranked first with 62.76%, followed by the purchase of financial bonds in second place with 32.21%, purchase with a bank loan at 5.03% ranked third.

The real estate stock depreciation rate reached 3.04%

With regard to real estate stock figures, the report stated that the real estate stock consumption rate for new apartments in projects with a registered mark amounted to 3.04% in July of the current year 2022.

The percentage of sales of brand-name projects from ready-to-delivery apartments reached 69.47% in July 2022, while the percentage of sales of non-ready apartments in registered projects during July of this year amounted to 30.53%.

Edited by Imtilak Real Estate ©

Reference: Goyder

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