The new home price index in Turkey for December 2021 increased by 115%

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

Steady increase

According to the data contained in the aforementioned report, the new home price index in Turkey during December of 2021 witnessed an increase of 1.61% compared to the value of the index in the previous month, and by 5.54% compared to its value in the same month of the year 2020.

The new house price index in Turkey for December 2021 recorded an increase in the price of new homes in Turkey since the beginning of its study in 2010 by 115.10%.

The increase includes all apartment types

In the details of the aforementioned report, the new home price index recorded during December 2021 for new apartments of the 1+1 type increased by 1.92%.

The rate of increase in the index of new apartments of the type 2+1, was 1.97%. While the increase in the index for new apartments of the 3+1 type was 1.25%.

As for the new apartments of the 4+1 type, they witnessed a 1.2% increase in their price index.

Foreign sales accounted for 7.44%

According to the same report, the percentage of foreign sales of new apartments in the registered projects during December 2021 reached 7.44%.

Therefore, it achieved a progress of 0.44% compared to the sales of foreigners in the registered projects during the same month of 2020.

While the percentage of foreign sales of new apartments in Turkey in projects with a registered mark reached 8.58 during the last six months of the past year 2021.

1+1 model is the most preferred by foreign investors

According to the report, 1+1 apartments in the projects with registered trademarks ranked first among the most preferred apartment types by foreign investors.

Where this type of apartments accounted for 61.11% of the general sales to foreigners in the registered projects during December 2021.

Then the new apartments of type 3+1 with a rate of 22%, then apartments of type 3+1 with a rate of 16.67%.

Advance purchase tops purchasing methods in December

In the classification of sales of new apartments in the registered projects during December 2021, prepaid purchase ranked first among the payment methods with a rate of 47.48%.

The purchase of financial bonds came in second place by 41.12%, while the purchase by bank loan came in the third place with a rate of 11.40%.

Real estate inventory depreciation rate reached 9.51%

Regarding the real estate inventory figures, it was mentioned in the aforementioned report that the real estate stock consumption rate for new residential apartments amounted to 9.51% during December 2021.

While the value in the month preceding November 2021 was 8.09%.

The percentage of sales of registered projects from ready-to-handover apartments amounted to 21.71% during December 2021, while the percentage of sales of apartments not ready for delivery reached 78.29%.

 

Edited by Imtilak Real Estate©

Reference: GYODER

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